Singapore: Materion to acquire Heraeus, Singapore assets under negotiation

NYSE-listed Materion Corporation will be acquiring the principal portion of the high-performance target materials business of the Heraeus Group of Hanau, Germany. The acquisition is expected to be consummated in Q1 2017, subject to tregulatory approvals and customary closing conditions. Negotiations for Heraeus’ magnetic data storage business in Singapore continue and are not included in the acquisition terms that have been announced to date.

The decision to proceed with the principal portion of the proposed acquisition announced in May 2016 was to begin the regulatory approval process. This is not expected to be required for the magnetic data storage business.

Heraeus manufactures precious and non-precious metal target materials for the architectural and automotive glass, electronic display, photovoltaic and semiconductor markets at facilities in Germany, Taiwan, the United States and Singapore. it generates approximately $60 million in annual value-added sales, with the transaction purchase price is approximately $30 million, which represents a 6 times multiple of EBITDA. The target materials business is forecasted to be accretive to earnings in 2017.

Materion Corporation is headquartered in Mayfield Heights, Ohio and supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious speciality metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.

Once acquired, the businesses will operate within the Materion Advanced Materials business segment. The acquisition aligns with Materion’s global growth strategy, adding “critical mass in target materials underpinned by a broadened manufacturing presence in Europe, Taiwan and the U.S., as well as the addition of some highly differentiated technologies that will strengthen Materion’s offering to global customers.”

Commenting on the acquisition agreement, Donald G. Klimkowicz, President, Materion Advanced Materials, said, “We are excited to have reached this milestone toward acquiring this business. There are both complementary and unique aspects inherent to both Materion’s and Heraeus’ target materials offering and capabilities, which, once combined, will allow us to enhance our position in traditional markets, widen our product breadth and drive additional growth in new markets. This investment underscores our commitment to the long-term future of the target materials business.”

Also Read:

Singapore GIC to invest $260m in Indonesia’s Cinema 21 operator

Singapore: Wavemaker, National Research Foundation lead S$650k investment in DataStreamX

McDonald’s sells Singapore, Malaysian franchise to Saudi group

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.