Exit: Triton sells COBEX to Tokai Carbon

17. June 2019

Frankfurt/ Wies­ba­den (Germany), Tokyo (Japan) — From Triton (“Triton”) advi­sed funds have ente­red into an agree­ment to sell COBEX, a leading manu­fac­tu­rer and supplier of carbon and graphite products for alumi­num, primary iron and iron and other smel­ting indus­tries, to Tokai Carbon Co, Ltd (“Tokai Carbon”), a pioneer in the Japa­nese carbon products indus­try, for an enter­prise value of EUR 825 million was signed.

Triton acqui­red COBEX, the former cathode, furnace lining and carbon elec­trode busi­ness of SGL Group, in 2017. “We thank the manage­ment and employees for their contri­bu­tion to the success­ful deve­lo­p­ment of COBEX during the time Triton owned it. Tokai Carbon is the ideal part­ner for COBEX and this part­ners­hip will be bene­fi­cial for both compa­nies,” said Peder Prahl (photo), Direc­tor of Gene­ral Part­ners of Triton Funds. “COBEX is a reco­gni­zed inno­va­tion leader in mate­ri­als science and products. Thanks to its market-leading posi­tion in high-perfor­­mance carbon and graphite solu­ti­ons, COBEX has long-stan­­ding and trus­ted part­ners­hips with nume­rous custo­mers around the world. Triton has now taken the next step to ensure a success­ful and sustainable future for COBEX “, adds Rohin Jain, Invest­ment Advi­sory Profes­sio­nal at Triton.

“We thank Triton for being a stable inves­tor and good part­ner with whose support, indus­try know­ledge and exper­tise we have success­fully become a stand-alone company while streng­t­he­ning Cobex’s posi­tion as a global market leader,” said COBEX CEOs Frank Goede and Andrzej Hotlos.

“We welcome Tokai Carbon as our new owner. We are very exci­ted about the acqui­si­tion of COBEX as we believe the busi­ness has high growth poten­tial and will faci­li­tate the imple­men­ta­tion of our medium-term manage­ment plan T‑2021. COBEX will enable us to expand our inter­na­tio­nal presence and estab­lish a produc­tion plat­form in Eastern Europe. We look forward to working with COBEX and to a success­ful future toge­ther,” said Hajime Nagasaka, presi­dent and CEO of Tokai Carbon.

About Cobex
COBEX is a leading global manu­fac­tu­rer of carbon and graphite products for the primary alumi­num and iron indus­tries and other metall­ur­gi­cal smel­ting proces­ses. COBEX’s core compe­ten­cies are the produc­tion of premium quality and maxi­mum consis­tency catho­des, furnace linings and carbon elec­tro­des. COBEX main­tains long-stan­­ding, trus­ting part­ners­hips with nume­rous custo­mers around the world. With inno­va­tive solu­ti­ons COBEX helps its custo­mers to create added value and opti­mize total cost of owners­hip. A highly quali­fied team with many years of expe­ri­ence in product deve­lo­p­ment and appli­ca­tion supports custo­mers with tech­ni­cal know­ledge and skills. COBEX is based in Wies­ba­den, Germany. The company also has two plants in Poland and sales and tech­ni­cal services in China.

About Tokai
Foun­ded in 1918, Carbon­To­kai Carbon has been a market leader for over 100 years in manu­fac­tu­ring and distri­bu­ting a wide range of high-quality carbon and graphite products for nume­rous global custo­mers in a wide range of indus­tries inclu­ding steel, auto­mo­bi­les, semi­con­duc­tors and elec­tro­nic compon­ents. Tokai Carbon has deve­lo­ped and deli­ve­red cutting-edge carbon product exper­tise to meet custo­mer needs. Tokai Carbon main­tains a global network of 42 sites in 10 coun­tries in Asia, Europe and North America. The company had conso­li­da­ted sales of JPY231 billion and total assets of JPY317 billion for the year ended Decem­ber 31, 2018.

Tokai Carbon is listed on the Tokyo Stock Exchange.For more infor­ma­tion:

About Triton
Since its foun­ding in 1997, Triton has laun­ched nine funds and focu­sed on compa­nies in the indus­trial, services, consu­mer goods and health­care sectors. Triton funds invest in medium-sized compa­nies based in Europe and support their posi­tive development.Triton’s goal is to success­fully deve­lop its port­fo­lio compa­nies over the long term by working in partnership.Triton and its manage­ment strive to gene­rate posi­tive change and growth through the sustainable impro­ve­ment of opera­tio­nal proces­ses and struc­tures. At present, Triton’s port­fo­lio inclu­des 37 compa­nies with total sales of around EUR 14.9 billion and around 73,000 employees.

Subscribe newsletter

Here you can read about the latest transactions, IPOs, private equity deals and venture capital investments, who has raised a new fund, how Buy & Build activities are going.

Get in touch

Contact us!
fyb [at]