Carlyle Group LP, the world’s second-largest manager of alternative assets such as private equity, agreed to purchase German wood products manufacturer Klenk Holz AG for an undisclosed fee.

Carlyle Strategic Partners, which manages more than $2 billion across three funds and focuses on investments in distressed companies, will provide the capital for the purchase, Washington-based Carlyle said in an e-mailed statement today, without disclosing details of the transaction.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.