Canada Pension Plan Investment Board has agreed to acquire a stake in CeramTec GmbH, the German technical ceramics maker owned by buyout firm BC Partners.
BC Partners and Canada Pension Plan will each own about half of CeramTec along with their co-investors, they said in a statement T, confirming an earlier Bloomberg News report. The transaction values CeramTec at about 3.8 billion euros ($4.5 billion) including debt, people with knowledge of the matter said.
As part of the transaction, BC Partners will sell its CeramTec holding to its 11th fund, according to the statement. The move allows it to own the company for longer while returning money to backers of its 10th fund.
The deal adds to the $18.4 billion of private equity purchases announced in Germany this year, data compiled by Bloomberg show. CeramTec, based outside the southern German city of Stuttgart, produces industrial and technical ceramics for the medical, automotive, electronics and chemicals industries. Its products include everything from hip joints to car parts.
Source: Mergers&Acquisitions
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.