SYNTAGMA CAPITAL finalizes the acquisition of Erasteel, the high speed steels and recycling division of Eramet SA (Euronext Paris: ERA)

31 July 2023

Syntagma Capital announced today that it has completed the acquisition of Erasteel.

The company, which will continue to operate under the Erasteel brand, is a world leader in conventional metallurgy and powders for high-speed steels used for 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 company achieved a turnover of approximately 275 million euros, mainly serving the aeronautics, automotive and industrial sectors from its 6 industrial sites in France, Sweden and in China. The company employs approximately 860 people worldwide.

“Despite a very challenging M&A market, we continue to find attractive opportunities to grow our capital and provide divestment solutions that offer speed and security. We are excited about Erasteel's potential and look forward to working with management on the company's global growth,” said Sebastien Kiekert Le Moult, Managing Partner.

“We are delighted to announce the arrival of Kerstin Konradsson at Erasteel as CEO. She brings very valuable experience in the world of metallurgy having served as Chairman and CEO of Boliden Smelters; she has also held various management positions at Åkers and SSAB. We also welcome Beatrice Charon, former Vice President of Strategy at Constellium, to the Erasteel Advisory Board. We intend to leverage our global experience in metals and Erasteel's extensive technical and R&D know-how, global presence and strong customer relationships to further drive its growth, both organically and through targeted mergers and acquisitions.

The Syntagma 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 (for the organizational aspect), Faustine Viala, Charles Bodreau, Charles-Antoine Erignac and Jordan Pontal (for the regulatory aspect)), 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).