Cinven's CeramTec acquires UK Electro-Ceramics from Morgan

The deal marks the second bolt-on investment by the German company, following the 2015 acquisition of US-based DAI Ceramics.

It comes almost four years after Cinven acquired CeramTec, then a subsidiary of NYSE-listed chemicals and advanced materials company Rockwood Holdings, for €1.5bn.

Following the deal, Morgan's technical ceramics division's managing director Tony Beswick will continue to manage the business.

Cinven is invested in CeramTec via its fifth fund, which closed on €5.3bn in June 2013.

Company
Founded in 1964 as Steatite & Porcelain Products, UK Electro-Ceramics manufactures high performance ceramic components for use in electrical machinery, including medical devices. It has two manufacturing facilities in Ruabon and Southampton.

The business generated a turnover of £22.7m in 2016, according to a statement issued by the acquirer, and has a headcount of 251.

People
Ceramtec – Henri Steinmetz (CEO).
Morgan – Pete Raby (CEO).

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