Syntagma Capital, based in Brussels, Belgium, has announced that it has completed its acquisition of Erasteel, headquartered in Paris, France, from Eramet. The company will continue to operate under the Erasteel brand, providing its wide range of Powder Metallurgy steels and high speed steels.
Erasteel generated approximately €275 million in revenues in 2022, primarily serving the aerospace, automotive and industrial sectors across its six industrial sites in France, Sweden and China. The business employs around 860 employees worldwide.
“Despite a very challenging M&A market, we continue to find attractive carve-out opportunities to put capital at work and provide divestiture solutions that deliver speed and certainty. We are excited by Erasteel’s potential and look forward to working with management on the global growth of the company,” stated Sebastien Kiekert Le Moult, Syntagma Managing Partner.
Syntagma has also shared that Kerstin Konradsson will be joining Erasteel as CEO. Frank Coenen, a Syntagma Partner, commented, “We are pleased to announce that Kerstin Konradsson is joining Erasteel as CEO. She brings very valuable experience in the metallurgy world after having been the president & CEO of Boliden Smelters as well as having held various management positions within Åkers and SSAB. We also welcome Beatrice Charon, former VP of Strategy at Constellium, to the advisory board of Erasteel.”
“We intend to leverage our global experience in metals and Erasteel’s extensive R&D and technical know-how, global presence and strong customer relationships to further enhance its growth, both organically and through targeted M&A. We also intend to accelerate the development of the recycling division of Erasteel in France,” Coenen concluded.