Hahn & Co. completes aquisition of SKC’s fine ceramics biz for W360b

Hahn & Co., the nation's largest private equity firm based on assets under management, announced Friday that it has acquired 100 percent stake in SKC's fine ceramics business for 360 billion won ($270 million).

SKC operates as the semiconductor material arm under SK Group, the country's second-largest conglomerate. The acquisition comes three months after the contract was signed in late October. Under Hahn & Co.’s ownership, the company will operate with a new name, Solmics.

Solmics produces high-purity quartz and silicon carbide consumable materials for advanced semiconductor manufacturing processes. The business is a market leader with over 30 years of experience and is an integral part of the semiconductor industry both globally and in Korea, supplying to both semiconductor equipment and chip makers, the asset manager explained.

Hahn & Co. is one of the largest private equity firms in Korea with over $28 billion invested to date. The acquisition of SKC’s fine ceramics business will represent the asset manager's 35th acquisition in the country. In past six months, the firm has executed 1.7 trillion won worth of investment, including the SKC deal.

“We are pleased to acquire Solmics and propel its growing position in the global semiconductor industry,” Scott Sang-Won Hahn, CEO of Hahn & Co. said.

In recent years, Hahn & Co. has been working closely with SK Group. Joining hands with the conglomerate, it has executed investments in wet bulk shipping company SK Shipping, used car retailer SK Encar and real estate and renewable energy developer SK D&D.

Earlier this year, it completed the sale of SK Eco Prime, a leading biodiesel manufacturer. The deal size was not revealed, but it is estimated to have been made at between 400 to 500 billion won, according to news reports.