CeramTec Group with Cinven as New Owner Beginning September 1st
CeramTec North America Corp.
1 Technology Place, Hwy. 14
Laurens, SC, 29360
Press release date: September 1, 2013
Following the closing, i.e. the transfer of CeramTec’s shares to the new owner, on August 31, 2013, CeramTec will now be majority owned by the European private equity firm Cinven. After the approval from the respective anti-trust and supervisory authorities, the transition will now take place.
“CeramTec is very profitable, well-positioned in a number of markets and has a sustainable, positive business outlook. We will use this position to continue driving expansion in the Americas and Asia. With owner Cinven at our side, we can be assured of support in our efforts to enter new business segments. We welcome Cinven and look forward to positive developments associated with the transfer of ownership.”
Dr. Ulf-D. Zimmermann, CEO of the CeramTec Group Cinven will be the new majority shareholder of the CeramTec Group, headquartered in Plochingen, Germany. Cinven is acquiring Europe’s largest manufacturer of advanced technical ceramics from its former owner Rockwood Holdings Inc. for a total consideration of Euros 1.49 billion.
Following the acquisition, CeramTec will become an independent limited company that is not incorporated in an operating group, a constellation also known as a stand-alone business, and will be led from Plochingen. The company will have the option of preparing for an initial public offering.
Cinven is a leading European private equity firm, founded in 1977. It focuses on six sectors: Healthcare, Business Services, Consumer, Financial Services, Industrials and TMT (Technology, Media and Telecommunications). Its European focus and expertise are complemented by an ability to capitalize on global growth opportunities through its Asian portfolio team.
CeramTec’s former owner, United States-based Rockwood Holdings Inc., previously concentrated on the advanced materials and specialty chemicals fields. The decision to modify and reduce its own company portfolio will result in the sale of additional Rockwood companies. In the future, Rockwood plans on focusing exclusively on its lithium activities.