The Carlyle Group completed the acquisition of Schaltbau, a group of mechanical and electrical engineering companies, for $693m. Carlyle has informed Schaltbau that they have already secured irrevocable undertakings from several existing major shareholders of the company, together representing approx. 69% of the total share capital of Schaltbau on a fully diluted basis, which have committed to tender their existing shares into the Offer and to also accept the offer for all converted shares they receive upon conversion of the mandatory convertible bonds issued by Schaltbau and currently held by them.