European private equity firm Cinven has completed its previously announced acquisition of CeramTec, the manufacturer of high performance ceramics used in medical, automotive, industrials and electronic end-markets, for €1.49bn.
The firm has also completed a refinancing of CeramTec comprising both high yield bonds and loans denominated in euros and US dollars. Deutsche Bank, RBC Capital Markets and UBS arranged the financing.
Cinven has also seen Anthony Garton, a member of its investor relations team, leave the firm for secondary firm Lexington Partners. Garton, who has not yet left to take up his new role, joined Cinven in 2008, after having spent five years at Credit Suisse and UBS Investment Bank in London, working in structured finance origination, financial sponsors and leveraged finance and in financial M&A.
Earlier this year the firm held another close on its latest fund, raising a total of €5.3bn.
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