Carlyle sells MEC

Carlyle has sold its 51% stake in MEC Holding, a German welding and cutting company, to Messer Industrie, for an estimated €150m.

No financial details were disclosed but it has been reported that the sale generated a 2x return for Carlyle. The deal will see Messer Industrie, which already owned a 49% share in MEC, become the company’s sole shareholder.

Carlyle Europe Partners I invested in MEC in 2000, the same year that MEC was formed through the merger of Messer Cutting & Welding Group and Swiss company Castolin Eutectic Group.

MEC, based in Kriftel, near Frankfurt-am-Main, has more than 2,000 employees in 40 countries across Europe, NAFTA and Asia Pacific, and generated €328m in 2004. Its specialist wear & fusion technology is the worldwide leading specialist in welding, brazing, coating and wear plate technologies for challenging repair, surface protection and joining tasks.