Exit: Triton sells COBEX to Tokai Carbon
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.
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. cobexgroup.com
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: www.tokaicarbon.co.jp/en/
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.