Nordic Capital Fund VII acquires SiC Processing AG
Jun 21, 2010
Nordic Capital Fund VII has acquired a majority stake in
SiC Processing AG ("SiC Processing") from a group of sellers, while
the founding family remains as co- owners with 25% and former lead
investor zouk ventures retains a 5% stake. - Nordic Capital funds
have a strong funding base and a track record of investing
alongside family owners, both important elements for ensuring our
global expansion, said Thomas Heckmann, CEO and founder of SiC
Processing.
SiC Processing is a leading supplier in the recovery and
processing of sawing slurry in silicon wafer production. The
company generates over 90% of revenues from customers in
photovoltaic wafer manufacturing, but also serves major
manufacturers in the semiconductor industry. Its headquarters are
located in Hirschau, Germany and production facilities are in
Germany, Norway, Italy, China and the USA.
SiC Processing has expanded rapidly in the past as trusted
partner to its industry-leading customer base. In order to meet the
growing global demand for renewable energy from solar power the
company is planning further expansion of its capacity.
"Due to the strong growth of solar renewable energy, we are
facing increasing demand for slurry processing capacities from
existing and new customers. With Nordic Capital Fund VII as new
majority owner, we have a partner with the strong funding base
required to meet this demand. In addition, we are convinced that
Nordic Capital with its strong track record of co-ownership
alongside with family owners is the right partner for the German
Mittelstand", said Thomas Heckmann, CEO and Founder of SiC
Processing.
"We are impressed by what the management team at SiC Processing
has achieved in co-operation with its investors over the last three
years. Based on its technology-leading position, SiC Processing
delivers a strong value proposition to its customers. We see great
potential in supporting the company in the execution of its
expansion pipeline, and are looking forward to working closely with
the management team to further strengthen SiC Processing's position
as a leading supplier to the solar wafer manufacturing industry",
said Dr. Sönke Bästlein, partner at Nordic Capital in
Frankfurt.
For more information, please contact:
Thomas Heckmann, CEO, SiC Processing AG, Hirschau, +49 9622 703
9400 Dr. Sönke Bästlein, Partner, Nordic Capital, Frankfurt, +49 69
972 669 420
SiC Processing AG is one of the leading providers for the
processing of used slurry from the wafer industry. The company has
a broad and international customer base consisting of wafer
manufacturers in the photovoltaic and semiconductor industry. The
philosophy of the SiC Group includes long-term contracts, a close
and established mutual trust and a partnership-based business
model. For more information about the company please visit the
website at www.sic-processing.com.
About Nordic Capital Private Equity Funds
Since the start in 1989, Nordic Capital Private Equity Funds
have invested in large and medium sized companies, primarily in
Northern Europe. Through committed ownership and by targeting
strategic development and operational improvements, Nordic Capital
creates value in its investments. The funds invest in companies in
Northern Europe and in selected investment opportunities
internationally. They are based in Jersey, Channel Islands, and are
advised by the NC Advisory companies in Sweden, Denmark, Finland,
Norway, Germany and the UK. Additional information about Nordic
Capital is available through its corporate website, www.nordiccapital.com.
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