Hahn & Company acquires SKC's fine ceramics business for $270m

[HAHN & COMPANY]

Hahn & Company, Korea's leading investment firm, has acquired SKC's fine ceramics business unit for $270 million, the firm announced on Friday.

SK enpulse, a semiconductor component maker fully owned by SKC, signed the deal with Hahn & Company on Oct. 31.

The fine ceramics division makes semiconductor components including silicon quartz and alumina. It was SK enpulse’s cash cow business that accounted for 70 percent of the company’s total sales.

The division will now operate under a new company name dubbed “Solmics.”

“This transaction further strengthens Hahn & Company’s track record of investing in Korean businesses that serve globally competitive industries,” the company said in a statement. “Hahn & Company is the largest private equity firm in Korea with over $28 billion invested to this date. This acquisition will represent the company’s 35th acquisition in the country.”

Meanwhile, SKC said that it will use the funds it made from the deal to strengthen its semiconductor parts business.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]