Paragon Partners GmbH signed an agreement to acquire Specials business of KME group from Intek Group S.p.A. (BIT:IKG) for 280 million on June 15, 2021. As per terms of transaction, The agreement, grants an exclusivity to Paragon for the negotiation of the final sale and purchase agreement pursuant to the terms agreed today, envisages the establishment of a company owned by Paragon at 55% and by KME at 45% to which the above-mentioned KME Specials business will be contributed. The transaction is financed by Paragons own/managed funds and a dedicated financing package provided by Hayfin Capital Management. As on December 31, 2020, Specials business of KME group reported revenue of 260 million and EBITDA of 44 million. The transaction is subject to the negotiation of the final agreement and to confirmatory due diligence on legal and tax aspects of minor foreign companies related to the business to be transferred. Proceeds of 60-80 million are intended for the reimbursement of intragroup working capital facilities plus a vendor loan in the amount of 32 million that will be reimbursed by the newly-established company. Closing of the transaction will be only subject to the merger control clearance by the German and Austrian competition authorities. Shearman & Sterling LLP, Investment Banking Arm acted as financial advisor to Intek group and KME Special Products GmbH & Co. KG.