Shearman And Sterling

News January 10, 2022

Paragon’s Acquisition Financing of KME SPECIAL

Shearman & Sterling advised Paragon on the financing of the acquisition of a 55% stake in KME SPECIAL, the world leader in casting molds and casting technologies for the global steel industry. KME SE will retain a 45% stake in the newly formed joint venture and will continue to support KME SPECIAL’s growth.

KME SPECIAL, headquartered in Osnabrück (Germany), will generate around €300m revenue in 2021 by serving its global customer base with advanced products and services used in the continuous casting of steel and other metals, corrosion resistant products for maritime applications, and customer specific products for industrial processes. The company employs approximately 1,200 people and operates 11 sites around the globe. Paragon and KME SE will jointly carve-out KME SPECIAL from KME group and support its ambitious growth agenda.

Founded in 2004, Paragon is one of the leading independent private equity firms in Europe, with more than EUR 1.2 billion of equity under management. Paragon works closely with portfolio companies to achieve sustainable growth and operational excellence. The investment portfolio covers various industries and currently comprises 16 companies. The firm is based in Munich, Germany.

The Shearman & Sterling team led by partner Winfried M. Carli advised Paragon already on the financing of the acquisition of Castolin Eutectic.

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