Ceramic manufacturer CeramTec has acquired Morgan Advanced Materials’ UK Electro-Ceramics business, comprising two manufacturing sites at Ruabon and Southampton.
The transaction will be structured as a sale of the business, assets and goodwill for an enterprise value of £47 million.
In 2016, UK Electro-Ceramics generated revenues of £22.7 million and employed 251 persons. The business produces a range of piezo and dielectric ceramic products used in a range of industrial, electronics, medical and defense applications.
Tony Beswick, current Managing Director of Morgan Technical Ceramics, will continue to run the business under CeramTec’s ownership.
‘I am pleased to announce the sale of UK Electro-Ceramics,’ said Pete Raby, CEO of Morgan. ‘This divestment supports our aim of simplifying Morgan to focus on technology businesses of scale, allowing us to better service global markets and to drive the most value from our core activities. 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.’
This story is reprinted from material from CeramTec, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
