SYNTAGMA CAPITAL Completes the Acquisition of Erasteel, the High-Speed Steels and Recycling Division of Eramet S.A. (Euronext Paris: ERA)

Syntagma Capital today announces that it has completed its acquisition of Erasteel (https://www.erasteel.com).

The company, which will continue to operate under the Erasteel brand, is a global leader in the conventional and powder metallurgy of high-speed steels used for high performance machining, drilling and cutting tools. In addition, Erasteel has unique metal recycling capabilities in Europe, offering sustainable solutions for the recovery of batteries, catalysts and metals. In 2022, the business generated ca. €275m in revenues serving primarily the aerospace, automotive and industrial sectors across its 6 industrial sites in France, Sweden and China. The business employs ca. 860 employees worldwide.

“Despite a very challenging M&A market, we continue to find attractive carve-out opportunities to put capital at work and provide divestiture solutions that deliver speed and certainty. We are excited by Erasteel’s potential and look forward to working with management on the global growth of the company” said Syntagma Managing Partner Sebastien Kiekert Le Moult.

“We are pleased to announce that Kerstin Konradsson is joining Erasteel as CEO. She brings very valuable experience in the metallurgy world after having been the President & CEO of Boliden Smelters as well as having held various management positions within Åkers and SSAB. We also welcome Beatrice Charon, former VP of Strategy at Constellium, to the advisory board of Erasteel. We intend to leverage our global experience in metals and Erasteel’s extensive R&D and technical know-how, global presence and strong customer relationships to further enhance its growth, both organically and through targeted M&A. We also intend to accelerate the development of the recycling division of Erasteel in France” said Syntagma Partner Frank Coenen.

Syntagma’s team involved in the transaction included Sebastien Kiekert Le Moult (Managing Partner), Frank Coenen (Partner), Benjamin Dahan (Partner), Fabio Yamasaki (Principal) and Gabriele Lo Monaco (Senior Associate).

Syntagma was advised by Willkie Farr Gallagher (Hugo Nocerino and Victor Cann (corporate), Faustine Viala, Charles Bodreau, Charles-Antoine Erignac and Jordan Pontal (Regulatory) ), Lincoln International (Géraud Estrangin, Côme de Las Cases), PwC Transaction (Eric Douheret, Clément Meudec, François-Xavier Bornet, Geoffrey Donio, Charles Simonnetto), PwC Legal and Tax (Anne-Valerie Attias-Assouline, Mathieu Norest, Morgane Croisier) and Advention Business Partners (Jean-Michel Schmitt, Iska Pivois).

About Syntagma Capital

Syntagma invests in companies that can benefit from hands-on operational expertise to accelerate growth and improve performance for all stakeholders. We are true operators with experience working in and managing companies on a global scale, leveraging our in-house resources to develop successful strategies, execute them to realize their full potential and create sustainable long-term value. Syntagma invests and operates companies in a broad range of industries with a specific focus on the material, chemical, industrial and business services markets and including manufacturing, distribution, transportation and logistics, equipment rental, metals services and other industries. Syntagma, as signatory of the UN PRI, is committed to high ESG standards across all its investments and is based in Brussels, Belgium. For more information, please visit: https://syntagmacapital.com

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