Paragon Partners has wholly acquired Germany-based industrial equipment protection and repair company Castalon Eutectic from Messer Group, which owned the company via its MEC Group.
Shares have been sold to institutional investors for €15.8 a share
Add-on is the first since LDC and Ares provided financing of £100m to the telecoms company in 2019
Acquisition of the fire safety systems provider is the first from the GP's €1.1bn eighth fund
Fresh capital will go towards increasing delivery speed and geographic footprint