The Carlyle Group has beaten a number of other prominent private equity houses to clinch a leveraged buy-out of Edscha, a German car parts company, in a deal valuing the equity at €243m ($246m).

EdCar Beteiligungs, an investment vehicle set up by the US-based private equity firm, won the six-month bidding process for the manufacturer. Sources familiar with the deal say that 12 other companies - including Bain Capital, Industri Kapital, NIB Capital, Electra and Warburg Pincus - were all competing in the final round.