Carlyle completes Traxys deal

The transaction was first announced by Traxys in March this year, stating that the deal was likely to complete in Q3 2014. Morgan Stanley advised the company.

The GP invested in the company alongside US hedge fund Moore Capital Management chairman and CEO Louis Bacon, as well as the company's management, which increased its shareholding through the transaction.

Carlyle backed the company via the holding company T-I Holdings, drawing equity from its US Equity Opportunity Fund. The vehicle provides equity tickets of $25-150m.

The three acquiring parties bought their stakes from Pegasus, Kelso and Resource Capital Funds. The former two firms acquired the business in January 2006 from Arcelor and Umicore in a management buyout, while Resource became a shareholder in January 2007.

Headquartered in Luxembourg, Traxys was founded in 2003 through the merger of Umicore-owned Sogem and Arcelor division Considar.

The company is a metals and minerals commodity merchant, with its focus on sourcing base metals, alloying metals, industrial minerals and chemicals, materials for steel mills and carbon products. It also offers logistics and supply chain management services.

Traxys generates more than $6bn in annual turnover and employs 300 staff across 20 offices. Its CEO is Mark Kristoff.

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• Topics
• Benelux
• Buyout
• Support services
• Secondary buyout
• Luxembourg
• Carlyle Group
• Kelso & Co