• Agreement to acquire Resonac’s Graphite Electrode & EAF Solutions Business – GBU – in the Americas, EMEA and Asia through a complex global carve-out
• The business combines graphite electrode manufacturing with EAF optimisation and automation solutions. Graphite electrodes are essential consumables used to conduct electricity in electric arc furnaces for steelmaking
• The business currently employs approximately 900 people worldwide and in 2025 generated revenues of about $500 million
• GBU marks AURELIUS’ second acquisition from Resonac, following FIAMM last year, and its sixth acquisition from a Japanese seller in recent years, supported for the first time by a local team in its recently established Tokyo office

Luxembourg, November 12, 2026 – AURELIUS, a global private equity investor distinguished and widely recognised for its operational approach, has signed a definitive agreement with Resonac Corporation (“REC”) regarding the proposed acquisition of its Graphite Business Unit (“GBU”) in the Americas, EMEA and Asia in a complex, global carve-out. This marks AURELIUS’ first Japan-related transaction since the opening of its Tokyo office in June this year.

GBU is a global producer of graphite electrodes, a mission-critical consumable used in modern electric arc furnaces for steelmaking. Graphite electrodes are high-temperature resistant, conductive cylindrical rods used to conduct electrical currents in steel furnaces, produced in a complex and lengthy manufacturing process with high capex requirements, creating natural barriers to entry. AMI Automation, a provider of advanced electric arc furnace (EAF) optimisation technologies which was acquired by GBU in 2023, will also be part of the transaction.

GBU currently employs approximately 900 people across its locations in Spain, the US, Mexico, Germany, Austria, Italy and Japan, and generated about $500m in revenues in 2025.

“Graphite electrodes are an essential consumable used in more environmentally friendly steel production,” said Massimo Vendramini, Managing Director AURELIUS Southern Europe. “They are complex and difficult to replicate, and benefit from substantial barriers to entry. AURELIUS intends to build on GBU’s market-leading position to drive growth as graphite-electrode demand benefits from long term structural growth. GBU is a well-run business with a strong operational foundation across its main manufacturing sites in La Coruña in Spain, Ridgeville in the US and Steeg in Austria. AURELIUS will support it with targeted operational initiatives, while also focusing on developing it into a leading solutions provider. Finally, we are pleased to have signed the first transaction for AURELIUS in recent times that includes a substantial Spanish asset.”

“This transaction is another example of how AURELIUS can deliver solutions that few other investors can offer to large Japanese corporates such as Resonac. With our team in Tokyo, we intend to accelerate our investments in international businesses owned by Japanese corporates,” said Eiji Shibata, Managing Director AURELIUS Japan.

Andrzej Cebrat, Managing Director at AURELIUS Funds IV and V, adds: “I am delighted that we have signed acquisition number six for our AURELIUS Opportunities Fund V. GBU is our second purchase from Resonac after FIAMM last year, and our sixth in recent years from a Japanese seller. This shows that we are becoming the go-to buyer for Japanese corporates seeking to sell their complex international assets.”

The transaction is expected to be completed during the second quarter of 2027, after the agreed closing conditions have been satisfied and the relevant regulatory approvals have been obtained. Until closing, GBU will continue to operate as part of Resonac.

AURELIUS was advised by Houlihan Lokey (M&A), Jones Day (Legal), Haver & Mailänder (Legal), EY-Parthenon (Financial), EY (Tax), Ramboll (EHS) and AON (Insurance).

About AURELIUS

AURELIUS is a global private equity investor, distinguished and widely recognised for its operational approach. It focuses on private markets, in particular Private Equity and Private Debt. Its key investment platforms include AURELIUS Opportunities V, AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth. AURELIUS has been growing significantly in recent years, especially expanding its global footprint, and today employs more than 400 professionals in ten offices spanning Europe, North America and Asia.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, and has built a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions.

More info: www.aurelius-group.com

AURELIUS media contact:

Harald Kinzler

Head of Communications

harald.kinzler@aurelius-group.com

+44 7785 722 191