Long speculated – Now Official: European private equity firm Cinven Ltd. will become the new sole shareholder of the CeramTec Group, headquartered in Plochingen, Germany. Former owner Rockwood Holdings Inc. arranged to sell the ceramics manufacturer for € 1.49 billion.
The closing, which will mark the legal transfer of CeramTec GmbH from Rockwood to Cinven, is scheduled for this September at the latest. Dr. Ulf-D. Zimmermann commented on the sale: “Once again, CeramTec will be an independent member of a private equity firm with the option of preparing for an initial public offering. Accompanying this new ownership structure are the many opportunities afforded through the extensive support of the new owners. We would like to extend a warm welcome to Cinven and its management, including Mr. Pettersson and Mr. Schick! CeramTec is highly profitable, well-positioned in the marketplace and has a sustainable, positive business outlook. Cinven wants to use this position as the starting point for further expansion in the Americas and Asia and to support us in our efforts to uncover additional business segments. So we can look forward to positive developments associated with the transfer of ownership in the future.”