BRUSSELS, July 5 (Bernama-BUSINESS WIRE) — 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 theconventional 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.