As part of its exit of Thermo-Technologies group, Edify appointed Wagram as exclusive sell-side advisor for the group. This cross-border transaction with the US private group Fisk Alloys combines the n°1 European and the n°1 US leaders in high-performance alloy wires, creating a highly complementary industrial platform and positioning the combined
group as a worldwide global leader, with pro forma revenues of approximately €140 million and double-digit EBITDA-margin.
The transaction was structured as a triple-track process, engaging with private equity investors for the entire group, alongside parallel carve-out options for the Special Wires division on one side and the 2 others division on the other. This complex process was run as a competitive auction for the three options simultaneously pursued, attracting
interest from a large range of industrial and financial buyers from many geographies across Europe, the US and Asia.
About Thermo-Technologies (TT)
Thermo-Technologies (TT) is a global premium electrolytic metal coating leader, positioned on high value-added / “no-fail” applications. The Group’s key expertise lies in electroplating for a wide range of metals, organized across 3 divisions (o/w Special Wires). With its three divisions, the group generates sales at c. €150M with double digit EBITDA.
About the Special Wires Division (SPW)
With c.€48 million of revenue in 2025 and double-digit EBITDA margins, the Special Wires division designs and manufactures solid and stranded wires made from high performances metal cores plated with various metallic coatings (silver, nickel, gold). This division operates from France, the US and Vietnam with a worldwide reach in term of client in various industries (defense, aerospace, transport, music, fashion, healthcare, a.o.).
Advised in the sale of
Special Wires Division of Thermo Technologies
to