Transaction: Triton and Cobex
Wardyński & Partners has advised Triton in a transaction in which funds advised by Triton have signed an agreement to sell the Cobex group, including Cobex sp. z o.o. (formerly SGL Carbon SA)—plants producing cathodes, furnace linings and carbon electrodes—to Tokai Carbon.
The transaction is valued at EUR 825 million. Triton acquired Cobex, previously part of the SGL group, in 2017. The closing of the transaction will occur upon fulfilment of customary conditions.
Triton is an investment fund established in 1997, investing in enterprises in Europe and supporting their growth. Its portfolio includes 37 companies employing about 73,000 people, with combined sales of EUR 14.9 billion.
Tokai Carbon, listed on the Tokyo Stock Exchange, is a leader in production and sale of a broad range of high-quality carbon and graphite products, serving numerous global customers in a wide range of industries such as steel, autos, semiconductors, and electronic components.
The Cobex group is a global leader in the manufacture of carbon and graphite products for the aluminium and iron industries and other metallurgical smelting processes. Cobex’s core areas of expertise lie in the manufacture of premium-quality cathodes, furnace linings and carbon electrodes. Cobex sp. z o.o., which is part of the transaction, is one of Poland’s largest manufacturers of electrodes and graphic and carbon blocks, with plants in Racibórz and Nowy Sącz.