Shearman & Sterling advised Cathay Capital Private Equity („Cathay“) on the financing of the acquisition of WST Präzisionstechnik GmbH, the first transaction of Cathay in Germany. The sellers are a Finatem Fund and the management of WST. Completion of the transaction is subject to competition clearance. The parties agreed not to disclose the purchase price.
Cathay is a leading international private equity firm focusing on cross-border investments. With more than EUR 1.2 billion in assets under management, Cathay has invested in companies across three continents. The acquisition of WST Präzisionstechnik is financed by Cathay’s EUR 500 million Mid-Cap Fund.
WST Präzisionstechnik GmbH is headquartered in Löffingen and has more than 400 employees at two production sites in Germany. The company is a long-established manufacturer of high precision turned parts for the automotive industry as well as for customers in the fields of drive, mechanical and hydraulics engineering.
The Shearman & Sterling team was led by partner Winfried M. Carli (Frankfurt-Finance) and included associate Andreas Breu (Frankfurt-Finance).