Astorg sells Metalor to Japanese buyer

Astorg agreed to acquire a 60% stake in Metalor from a group of Swiss private investors in October 2009. Metalor's management team, led by its CEO Scott Morrison, also became a substantial shareholder.

Astorg stated that, during the GP's holding period, Metalor constructed three new facilities in China, Singapore and Mexico and acquired two businesses in North America and Asia.

Precious metal trader Tanaka, which also refines and manufactures metal, hopes to strengthen its European foothold and benefit from synergies through the acquisition of Metalor.

Only last month, Astorg closed its sixth buyout fund on its €2.1bn extended hard-cap.

Company
Founded in 1852 and based in Neuchâtel, Metalor is a diversified group in the precious metals sector, operating across 17 countries and 12 production facilities. The business refines metals from mining and recycling origins, produces chemicals and precious metal compounds for plating applications for the electronic and jewellery industries, and manufactures silver contacts for the electrical equipment industry. It employs 1,500 people.

People
Astorg – Joël Lacourte (managing partner); Benjamin Dierickx (associate director).
Metalor – Philippe Royer (CEO).

Advisers
Vendor – Houlihan Lokey, Pierre Faulier, Fei He (M&A); Paul Hastings, Alexis Terray, Edith Boucaya, (legal); EY, Amaury Bonnaire, Anne-Sophie Larmaraud (financial due diligence); Lionel Benant, Benjamin Pique (tax); ERM, Werner Schulte, Gudrun Schwerdtle (environmental due diligence).

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• Topics
• Exits
• DACH
• Industrials
• France
• Trade sale
• Astorg Partners
• Switzerland