Paragon sells cunova to the KME Group

As the global market leader, cunova serves customers with highly engineered copper products and services for the continuous casting of steel and other metals. In addition, the company supplies highly corrosion-resistant products for specialized marine applications as well as customized copper products for industrial applications. Headquartered in Osnabrück, Germany, cunova employs approximately 1,000 people and operates six sites worldwide.

Following Paragon’s acquisition in 2022 and the successful carve-out, cunova established itself as an independent company, focusing on growth through high-margin specialty products. As part of the transaction completed today, Paragon has sold its share back to KME, which will combine cunova with its aerospace business. This transaction further strengthens the company’s focus on high-margin growth markets and creates a fully integrated market leader in specialty copper solutions. Paragon will continue to hold preferred equity in the newly formed company.

Christoph Geyer, CEO of cunova, commented: “The cunova management team is excited about the merger with KME’s aerospace business. By combining our strengths, we will further enhance our position as a leading provider of highly engineered copper solutions.”

Dr. Krischan von Moeller, Senior Partner at Paragon, added: “We would like to thank the cunova management team for the successful and trusting partnership over the past years. We look forward to continuing to support the execution of the company’s successful growth strategy.”

About Paragon

Paragon is an owner-managed private investment group that has been investing in medium-sized companies across the German-speaking region since its founding in 2004. Paragon works closely with its portfolio companies to drive sustainable growth and improve operational performance. Its portfolio spans a broad range of industries and currently comprises 12 companies. Headquartered in Munich, Paragon currently manages more than €2.4 billion of equity capital. Further information is available at www.paragon.en