Sale to Höganäs AB

Industrial
Sale to Höganäs AB

Summary

Baird served as co-financial advisor to H.C. Starck GmbH, Advent International Corporation and The Carlyle Group on this Transaction

About

H.C. Starck GmbH (“H.C. Starck”), a portfolio company of Advent International Corporation (“Advent International”) and The Carlyle Group (“Carlyle”) (NASDAQ-GS:CG), recently sold its wholly owned subsidiary H.C. Starck Surface Technology and Ceramic Powders GmbH (“STC” or the “Business”) to Höganäs AB (“Höganäs”), a leading provider of metal powders for customers in metallurgical industries, such as surface coating or metal 3D printing. Terms of the transaction were not disclosed.

H.C. Starck is a leading premium supplier of the technology metals tungsten, molybdenum, tantalum, niobium, and rhenium, high-performance ceramics, and thermal spray powders. The turnover for 2016 was approx. €700 million. H.C. Starck has a workforce of 2,700 employees and is headquartered in Munich, Germany.

STC is a globally leading manufacturer of surface technology, ceramic and additive manufacturing powders with nearly 100 years of experience. The Business serves various end-markets including Industrial Gas Turbines / Aviation, Oil & Gas, Industrial Applications, Thermal Management & Clean Energy and Advanced Powder Metallurgy. The product portfolio ranges from powders for surface technology and ceramic applications to powders for additive manufacturing applications. Advent International and Carlyle acquired STC as part of the acquisition of H.C. Starck in 2006 from Bayer AG. In 2017, the Business had approximately 360 employees. STC is headquartered in Munich, Germany.

Advent International is a global private equity firm with $42 billion assets under management. Advent International operates through its 380 employees, based in 14 offices across 12 countries in various sectors, such as Business and Financial Services, Healthcare, Industrial, Retail, Consumer & Leisure and Technology, Media & Telecom. Advent International is headquartered in Boston, Massachusetts.

The Carlyle Group is a global alternative asset manager with more than $174 billion of assets under management. Founded in 1987, Carlyle has grown into one of the world’s largest and most successful investment firms, with more than 1,550 professionals operating out of 31 offices in North America, South America, Europe, the Middle East, Africa, Asia and Australia. Carlyle is headquartered in Washington, D.C.

Höganäs is a world leader on the market for metal powders with a yearly capacity of 500,000 tons. In close cooperation with customers, Höganäs develops tomorrow’s solutions for automotive components, electrical motors, brazing, surface coating, additive manufacturing and sustainable water treatment. Höganäs operates 13 production centres across the globe and has a workforce of 1,800 employees. The turnover for 2016 was SEK7.3 billion. Höganäs, which was founded in 1797, is owned by Lindéngruppen and Wallenberg – owned FAM. Höganäs is headquartered in Höganäs, Sweden.
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Industrial
Sale to Höganäs AB
Date
February 2018
Company
H.C. Starck Surface Technology and Ceramic Powders GmbH
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
Europe

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