Paragon Partners acquires Castolin Eutectic
Munich/ Kriftel — Paragon Partners acquires Castolin Eutectic, a leading global provider of wear protection and repair solutions for industrial equipment, from Messer Group. Shearman & Sterling advised Paragon Partners on the refinancing for the acquisition of Castolin Eutectic.
Castolin Eutectic, based in Kriftel, Germany, offers the full range of consumables, equipment and services in welding, brazing and coating technologies. With six plants worldwide, Castolin Eutectic manufactures products that are used in maintenance and repair work by its own service team and by more than 40,000 customers in over 50 industries, including engineering & tooling, oil & gas, steel, mining, cement, glass, power generation and agriculture. The more than 1,600 employees generate annual sales of €300 million. With more than 100 years of experience in the maintenance and repair business, the Castolin Eutectic brand is known for outstanding technical expertise and quality.
PARAGON PARTNERS, founded in 2004, is a leading private equity firm in Europe with more than EUR 1.2 billion in equity under management. PARAGON PARTNERS works with its portfolio companies to achieve sustainable growth, operational excellence and market leadership. PARAGON PARTNERS unlocks new value in fundamentally attractive businesses and has the ability to address complexity on both the transactional and operational sides, repositioning businesses through customized value creation programs. The company is based in Munich, Germany.
Advisors to paragon Partners: Shearman & Sterling
Lead: Partner Winfried M. Carli, Partner Michael J. Steinberg (New York Finance) and Partner Pierre-Nicolas Ferrand (Paris Finance), Of Counsel Danforth Newcomb (New York Compliance) and Associates Andreas Breu, Marius Garnatz and Martina Buller (all Germany Finance) as well as Akofa Tsiagbe, Omer K. Hashmi, Jordan Franks (all New York Finance) and Yaelle Cohen (Paris Finance).
About Shearman & Sterling
Shearman & Sterling is an international law firm with 24 offices in 13 countries and approximately 850 lawyers. In Germany, Shearman & Sterling is represented at the Frankfurt office. The firm is one of the international market leaders in advising on complex cross-border transactions. Worldwide, Shearman & Sterling primarily advises international corporations and large national companies, financial institutions, and large mid-sized companies. For more information, visit www.shearman.com.