H.C. Starck Soltions Sells Its Electronic Materials Business to Materion

Industrial

HCSS, a portfolio company of Advent International and Carlyle, sale of HCS-Electronic Materials to Materion


Summary

H.C. Starck Solutions (“HCSS”), a portfolio company of funds managed by Advent International Corporation (“Advent International”) and The Carlyle Group (“Carlyle”) (NASDAQ: CG), recently completed the sale of its Electronic Materials business (“HCS-Electronic Materials” or the ”Business”) to Materion Corporation (“Materion”) for $380 million in cash.

Baird served as financial advisor to H.C. Starck Solutions, Advent International Corporation and The Carlyle Group on this transaction.

About

H.C. Starck Solutions is a leading global refractory metals platform providing technically advanced solutions in demanding, high value applications. Leveraging deep material and application expertise developed over 100 years, HCSS’ solutions are relied upon in mission critical applications in various end markets including semiconductors; aerospace, defense & government; medical; and industrial. HCSS’ strategic operating footprint includes manufacturing facilities in the United States, Europe and China.

HCS-Electronic Materials utilizes proprietary technology and extensive material science know-how to deliver tantalum- and niobium-based premium products and services for the semiconductor, industrial, and aerospace & defense markets. As a leading provider of high-quality, high-purity tantalum sputtering targets, HCS-Electronic Materials serves a critically important role in the manufacture of today’s leading-edge semiconductor chips. The Business is located in Newton, Massachusetts.

Founded in 1984, Advent is one of the largest and most experienced global private equity investors. Advent has invested in over 380 private equity transactions in 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 investment professionals across North America, Europe, Latin America and Asia. Advent focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which it lives and invests. Carlyle employs more than 1,800 people in 26 offices across five continents.

Materion Corporation, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion is headquartered in Mayfield Heights, Ohio.
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Industrial

HCSS, a portfolio company of Advent International and Carlyle, sale of HCS-Electronic Materials to Materion

Date
December 2021
Company
H.C. Starck Solutions
Transaction
M&A - Sellside
Sectors
Industrial
Verticals
Speciality Materials & Chemicals
Water & Filtration
Target Location
North America
Acquiror Location
North America

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