Höganäs acquires H.C. Starck’s Surface Technology& Ceramic Powders division
Höganäs acquires H.C. Starck’s Surface Technology & Ceramic Powders division – A leading global manufacturer of surface technology, ceramic and additive manufacturing powders.
Höganäs AB has signed an agreement to acquire 100% of H.C. Starck Group’s Surface Technology & Ceramic Powders division, STC. STC is a leading global manufacturer of surface technology, ceramic and additive manufacturing powders for a wide variety of end-market applications. The company operates as a legally separated stand-alone division within the H.C. Starck Group.
The acquisition will enable Höganäs to gain critical mass within surface coating and additive manufacturing areas, successfully positioning Höganäs on the trajectory towards achieving its long-term strategy. The acquisition will also enable Höganäs to leverage its global sales network and will provide an opportunity to cross-sell existing products to STC’s customers and vice versa.
“STC is an exciting company with attractive growth potential and a good strategic fit for Höganäs. STC’s broad product portfolio and strong trademarks will expand our existing product portfolio and add significant product development capabilities and know-how to Höganäs. The acquisition of STC also enables us to deliver to new customer segments within aerospace and adds a complementary geographic fit with STC’s strong presence in Europe in addition to our strong geographical presence in Asia and Americas. We look forward to welcoming our new colleagues to Höganäs and to collectively work towards achieving our targets and cement our position as the world’s leading manufacturer of metal powders”, says Fredrik Emilson, CEO of Höganäs.
The closing of the transaction is expected during the first half of 2018 and is subject to the approval of relevant authorities. SEB Corporate Finance has acted as sole financial advisor and Huth Dietrich Hahn, Eversheds Sutherland and Mannheimer Swartling have acted as legal advisors to Höganäs.
Mark Braithwaite, Senior Vice President Finance (Chief Financial Officer). Phone: +46 706 37 42 57, email: email@example.com
Nicklas Lång, General Counsel and Senior Vice President Sustainability. Phone: +46 768 75 40 83, email: firstname.lastname@example.org
Rune Magnusson, President Business Area Industrial. Phone: +49 173 707 7441, email: email@example.com
STC is a leading global manufacturer of surface technology, ceramic and additive manufacturing powders for a wide variety of end-market applications. STC produces a broad range of highly customized metallic and ceramic powders which target specialized niche applications in a diversified set of end-markets including industrial gas turbines, aviation, oil & gas, welding, medical, various industrial applications, thermal management & clean energy and additive manufacturing. STC operates two production facilities in Germany and has a workforce of approximately 360 employees. In 2016, the company reported revenues slightly above EUR 100m of which approximately 50% was generated from Europe.
Höganäs is the 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 centers across the globe and has a workforce of 1,800 employees. The turnover for 2016 was 7.3 BSEK. Höganäs, which was founded in 1797, is owned by Lindéngruppen and Wallenberg owned FAM.