Funds advised by SK Capital Partners, and Edgewater Capital Partners private investment firms focused on the specialty materials and specialty chemicals sectors, announced having entered into exclusive negotiations following submission of their binding offer to acquire the scintillation and photonic crystals business of Saint-Gobain, S.A., said the companies.
SK Capital will lead the investment with Edgewater acting as a meaningful minority shareholder with Board involvement. “We are incredibly excited to partner with the Saint-Gobain Crystals team as we embark on the next phase of the Company’s growth”
Headquartered in Hiram, Ohio with global facilities in the United States, France, and India, Saint-Gobain Crystals is recognized as a worldwide technology leader and provider of single scintillation crystals for radiation detection applications, as well as sapphire and garnet substrates for photonics and power electronics applications. The Company differentiates itself with deep R&D capabilities and expertise in crystal growth, packaging, and integration, as well as unique intellectual property supported by a portfolio of 174 patents. Saint-Gobain Crystals is fully vertically integrated with crystal purification, growth, cutting & finishing, packaging, and electronics integration capabilities.
SK Capital, Edgewater and Saint-Gobain are collaborating on a seamless transaction plan to enable the Company to continue serving its global customer base, employees and stakeholders. The definitive agreement between Saint-Gobain, SK Capital and Edgewater will be able to be finalized following completion of customary employee consultations within the Saint-Gobain group. The completion of the transaction is subject to the approval of certain regulatory authorities and should be effective before the end of the year.
We remind, SABIC SK Nexlene Company (SSNC), a joint venture between SABIC and SK Geo Centric, has announced plans to expand the capacity of its plant in the South Korean city of Ulsan to produce advanced material solutions.
The expansion, which is due to come on stream in the second quarter of 2024, targets applications in solar panels, vehicles, footwear, and flexible packaging.
mrchub.com