PE firms carve out division from Siparex-backed Safe

The buying consortium includes Ciclad, Capital Transmission, Qualitas and MBTradinvest, according to French daily Capital Finance.

The carved-out division, Safe Cronite, generated sales of €74m in 2017 and employs 800 people. The entire group generated sales of €288m for the same period and employs 3,200 people.

Safe Group made the divestment in order to concentrate on its Safe Metal and Safe Demo divisions, which it expects to make further acquisitions for, according to a statement.

Company
Safe Cronite was incorporated into the Safe group in 1983. It designs and manufactures refractor steel tools and components resistant to high temperatures and thermal shocks. The division has seven plants in France, England, Germany, China, India, Mexico and the Czech Republic, and sales offices in the US, Japan, South Korea and Sweden.

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• Topics
• Exits
• Buyouts
• DACH
• Industrials
• Switzerland
• Siparex
• Partial sale