GERMANY - EQUITA acquires Barat Carbide and Barat Ceramics

Craig
27 April 2006

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In a joint deal with the company management, Equita Fonds 3 has acquired Boart Longyear HMSR and Boart Ceramics GmbH. The vendor, Longyear Holdings Inc, is based in Salt Lake City. The two companies, Hard Materials and Softrock Tools (HMSR) and Boart Ceramics, are headquartered in Burghaun (Hessen) and Auma (Thuringia) respectively.

The two businesses develop, produce and market wear-resistant components for a variety of industrial applications. Principal products manufactured by Barat Carbide Group (HMSR) include hard metal products and steel hard metal tools used in wear-intensive industrial applications, and tools for the mining, civil engineering and roadbuilding sectors.

The core competency of Barat Ceramics is the manufacture of precision components, the applications here including machine and plant engineering, measuring and control technology, and the semiconductor and medical equipment industries. In the fiscal year 2005 consolidated sales of the two divisions totalled EUR 79m, with hard metals and steel hard metal tools having accounted for EUR 67m and ceramic products for EUR 12m of this total. Worldwide, the Group has a headcount of approximately 800, of which 300 are based in Burghaun and 170 at the Auma facility.