CeramTec announces acquisition of UK Electro-Ceramics
March 7, 2017
German-based manufacturer CeramTec has announced its acquisition of specialist electro-ceramics manufacturer UK Electro-Ceramics. The £47 million cash deal is expected to complete in April 2017 and will see UK Electro-Ceramics change hands from Morgan Advanced Materials PLC, a global materials technology company, to CeramTec, which specialises in quality ceramic products.
In the year ended 31 December 2016, UK Electro-Ceramics reported revenues of £22.7 million, and employed 251 persons at its Ruabon and Southampton sites. The business produces a range of piezo and dielectric ceramic products, used in a wide range of industrial, electronics, medical and defense applications. Components produced by UK Electro-Ceramics are designed for the most technically challenging applications, and include the widest range of products available for polycrystalline piezo and dielectric applications across core target markets.
Headquartered in Plochingen, Germany, CeramTec is a large international manufacturer which aims to supply its customers with premium ceramic products from sites across the globe. With a customer base in medical engineering, automotive manufacturing, electronics, equipment and mechanical engineering, as well as defense systems, energy and environmental technologies, the ceramics manufacturing company employs around 3,200 employees worldwide and reported revenues of approximately £435 million in 2015.
“This transaction opens the door to many new opportunities and possibilities for CeramTec: new markets, new application areas, and new developments,” stated Henri Steinmetz, Chief Executive Officer of CeramTec. “We are excited by the prospect of bringing together our significant expertise and knowledge in piezo and dielectric ceramics, which complement each other perfectly.”
Pete Raby, Chief Executive Officer of Morgan, commented, “UK Electro-Ceramics is a specialist business with excellent customer relationships. This transaction will build its scale and combine its expertise with that of CeramTec, creating a stronger and more resilient platform for the future.”
Tony Beswick, current Managing Director of Morgan Technical Ceramics, will continue to run UK Electro-Ceramics under CeramTec’s new ownership.