Fosbel

Fosbel established itself as the global leader in the provision of ceramic welding maintenance and repair services to coke oven and glass furnace operators.

The company pioneered ceramic welding technology for the repair of coke and glass ovens at extreme temperatures, improving efficiency and extending the operational lives of their customers' assets.

VALUE CREATION

During the investment period, Fosbel increased its turnover from €33m in 2002 to €69m in 2004. Profits have also seen a significant improvement benefiting from a growing appetite for coke in the Chinese and other economies around the world.

The company has expanded its Chinese and Asia Pacific divisions, as well as achieving further penetration of the European and North American markets.

THE EXIT

Equistone sold its investment in Fosbel for €82m to American Capital Strategies, a US-based buyout and mezzanine firm.