Luxembourg, Bad Homburg, Germany and Burghaun, June 15 /Xinhua-PRNewswire/ -- Element Six announced today that it has reached an agreement with German private equity investor Equita on the acquisition of Barat Carbide Holding GmbH. The purchase price has not been announced. The acquisition is subject to regulatory approval and is expected to be completed in the third quarter of 2007.
Barat Carbide is a leader in the development and manufacture of tungsten carbide wear-resistant solutions for mining, construction and road planning soft rock cutting tools and oil and gas, chemical and other industrial wear parts.
Through this acquisition, Element Six has expanded and strengthened its business in materials technology for the grinding industry and related fields. Christian Hultner, CEO of Element Six, said: “We are very excited about Barat Carbide's participation in the company group of Element Six. Barat Carbide has strong technical strength, strong product mix and excellent management team. The company's participation is a strong for us. Strong support."
Element Six is ​​an important player in the development of synthetic diamond and cubic boron nitride for a variety of industrial applications. As Christian Hultner points out: “After the acquisition, through a combination of expertise and product portfolio, we will be able to offer our customers a wider range of material solutions for their application needs. This acquisition also strengthens Element Six in super hard A leading position in the field of material development."
The current trend in material development is the fusion of superabrasive materials and tungsten carbide, which has long been a very independent material field. The development of nano-powder processes, the wider use of high-pressure and high-temperature and the development of carbonized diamond composites are driving this convergence. The combination of Element Six and Barat Carbide will deliver superior product performance, benefiting both customers.
Karl-Georg Hildebrand, Managing Director of Barat Carbide, said: “Everyone at Barat Carbide is fully aware of the value of our participation in Element Six. Everyone is looking forward to working with new colleagues. We are convinced of the strategy of this acquisition. Foundation, we believe that our business partners, companies and employees will benefit from it. Equita has always been the owner of Barat Carbide. In the past, our company as an independent manufacturer has benefited a lot from Equita's industry. Process structure and deep understanding of medium-sized company business processes."
Hans J. Moock, Managing Director of Equita Management GmbH added: “Barat Carbide has successfully developed into an independent manufacturer after leaving Boart Longyear. In order to unearth the company's full growth potential, it is currently joining the world leading industry such as Element Six. Vendors are the best time to continue to move along the path of success. While Element Six develops new strategic opportunities in its core business, the addition of Barat Carbide adds a new dimension of technology development to Element Six."
Company Profile Element Six is ​​a leading global supplier of high quality industrial diamond and complementary cubic boron nitride (cBN) abrasive materials. Diamond and cubic boron nitride products are mainly used in the drilling, sawing, cutting, grinding and polishing of various materials such as black and non-ferrous metals, natural stone and concrete, wood materials, plastics, glass and ceramics. Tool of. The latest product in this product line is a range of "Chemical Vapor Deposition" diamond products. These engineering materials are suitable for medical, optical, RF, thermal management and some precision applications. The Element Six Group operates globally with processing and manufacturing facilities in Ireland, Sweden, South Africa, China, Ukraine and the UK, with a worldwide distribution network.
Previously, Barat Carbide was a superhard materials group owned by Boart Longyear. Boart Longyear is the world's largest drilling contractor and manufacturer. With facilities in China, South Africa and Germany, Barat Carbide employs 620 people and is a global manufacturer of tungsten carbide materials technology. Since the 1950s, the company has earned a reputation for its technological excellence and innovation.
Equita is an independent non-bank affiliate private equity firm headquartered in Bad Homburg, investing in medium-sized companies in German-speaking countries through fully internally managed fund instruments. Equita typically acquires a majority stake in companies with high growth and value-added potential. The current investment is the new investment tool Equita Fonds 3 KgaA, which was completed in the spring of 2007 and raised a total of 315 million euros.
Barat Carbide is a leader in the development and manufacture of tungsten carbide wear-resistant solutions for mining, construction and road planning soft rock cutting tools and oil and gas, chemical and other industrial wear parts.
Through this acquisition, Element Six has expanded and strengthened its business in materials technology for the grinding industry and related fields. Christian Hultner, CEO of Element Six, said: “We are very excited about Barat Carbide's participation in the company group of Element Six. Barat Carbide has strong technical strength, strong product mix and excellent management team. The company's participation is a strong for us. Strong support."
Element Six is ​​an important player in the development of synthetic diamond and cubic boron nitride for a variety of industrial applications. As Christian Hultner points out: “After the acquisition, through a combination of expertise and product portfolio, we will be able to offer our customers a wider range of material solutions for their application needs. This acquisition also strengthens Element Six in super hard A leading position in the field of material development."
The current trend in material development is the fusion of superabrasive materials and tungsten carbide, which has long been a very independent material field. The development of nano-powder processes, the wider use of high-pressure and high-temperature and the development of carbonized diamond composites are driving this convergence. The combination of Element Six and Barat Carbide will deliver superior product performance, benefiting both customers.
Karl-Georg Hildebrand, Managing Director of Barat Carbide, said: “Everyone at Barat Carbide is fully aware of the value of our participation in Element Six. Everyone is looking forward to working with new colleagues. We are convinced of the strategy of this acquisition. Foundation, we believe that our business partners, companies and employees will benefit from it. Equita has always been the owner of Barat Carbide. In the past, our company as an independent manufacturer has benefited a lot from Equita's industry. Process structure and deep understanding of medium-sized company business processes."
Hans J. Moock, Managing Director of Equita Management GmbH added: “Barat Carbide has successfully developed into an independent manufacturer after leaving Boart Longyear. In order to unearth the company's full growth potential, it is currently joining the world leading industry such as Element Six. Vendors are the best time to continue to move along the path of success. While Element Six develops new strategic opportunities in its core business, the addition of Barat Carbide adds a new dimension of technology development to Element Six."
Company Profile Element Six is ​​a leading global supplier of high quality industrial diamond and complementary cubic boron nitride (cBN) abrasive materials. Diamond and cubic boron nitride products are mainly used in the drilling, sawing, cutting, grinding and polishing of various materials such as black and non-ferrous metals, natural stone and concrete, wood materials, plastics, glass and ceramics. Tool of. The latest product in this product line is a range of "Chemical Vapor Deposition" diamond products. These engineering materials are suitable for medical, optical, RF, thermal management and some precision applications. The Element Six Group operates globally with processing and manufacturing facilities in Ireland, Sweden, South Africa, China, Ukraine and the UK, with a worldwide distribution network.
Previously, Barat Carbide was a superhard materials group owned by Boart Longyear. Boart Longyear is the world's largest drilling contractor and manufacturer. With facilities in China, South Africa and Germany, Barat Carbide employs 620 people and is a global manufacturer of tungsten carbide materials technology. Since the 1950s, the company has earned a reputation for its technological excellence and innovation.
Equita is an independent non-bank affiliate private equity firm headquartered in Bad Homburg, investing in medium-sized companies in German-speaking countries through fully internally managed fund instruments. Equita typically acquires a majority stake in companies with high growth and value-added potential. The current investment is the new investment tool Equita Fonds 3 KgaA, which was completed in the spring of 2007 and raised a total of 315 million euros.
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