Nordic Capital Fund VII acquires SiC Processing AG
June 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.
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrial & Business Services and Consumer. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 14 billion in over 100 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com