GCA Altium has advised Paragon Partners on refinancing for the acquisition of Castolin Eutectic, the globally leading provider of wear-protection and repair solutions for industrial equipment, from the Messer Group.
Headquartered in Kriftel, Germany, Castolin Eutectic provides a full range of consumables, equipment and services for welding, brazing and coating technologies. In six plants across the globe, Castolin Eutectic provides products that are used in maintenance and repair jobs by its own service teams and over 40,000 customers in around 50 industries such as machinery and tool building, oil and gas, steel, mining, cement, glass, power generation and agriculture. Its 1,600 employees generate annual revenues of EUR 300m. Active for more than 100 years in the maintenance and repair business, the Castolin Eutectic brand is known for outstanding technical competence and quality.
GCA Altium advised on the refinancing following Paragon Partners’ acquisition of Castolin Eutectic from the Messer Group. The financing structure reflects the company’s global setup by providing multi-currency loans, bilateral factoring and credit lines enabling flexibility in day-to-day business.
Dr. Edin Hadzic, Co-founder and Managing Partner of Paragon Partners, stated: “Castolin Eutectic is the go-to place for industrial wear-protection and repair. We are delighted to welcome this industry champion to the Paragon family and are looking forward to supporting the firm through its next phase of development.”
Thorsten Weber, Managing Director at GCA Altium, commented: “The financing structure will support the group’s international expansion and growth strategy. We have known Paragon Partners as a trusted partner for many years and believe they are the ideal investor to support Castolin Eutectic in their strategic projects and buy-and-build story.”
The financing transaction closed on October 16th. All parties agreed not to disclose any further details of the transaction.
GCA Altium is the European business of GCA, a global investment bank that provides strategic M&A and capital markets advisory services to growth companies and market leaders. The firm offers worldwide coverage with over 500 employees in 25 offices across America, Asia and Europe. Built by the people that run the business, GCA is a firm of experts who focus on deals that require commitment, original perspective, skill and exceptional networks.
For further information about GCA Altium, please visit www.gcaaltium.com