Clifford Chance has advised Cinven and its portfolio company CeramTec on the takeover of UK Electro-Ceramics, with production sites in Ruabon and Southampton, from Morgan Advanced Materials plc.

The deal involves the sale of the entire division for GBP 47 million as part of an asset deal and is due to complete at the beginning of April 2017.

In the 2016 business year ending on 31 December, UK Electro-Ceramics employed 251 people and generated revenues of GBP 22.7 million. UK Electro-Ceramics produces piezo and dielectric ceramic products used in industrial, electronics, medical and defence applications.

CeramTec is a major international manufacturer and supplier of high-end technical ceramics based in Plochingen, Germany. Its products are used in a variety of medical, electrical, automotive, engineering, defence, energy, environmental and chemical applications. The company employs around 3,200 people globally and generated revenues of EUR 501 million in 2015. Clifford Chance was also advisor to Cinven on the acquisition of CeramTec from Rockwood.

The Clifford Chance team was led by partner Joachim Hasselbach (Private Equity/Corporate, Frankfurt) and comprised partner Christopher Sullivan, senior associate Jonathan Halliwell and associate Oliver Marcuse (all Private Equity/Corporate, London), associates Maria-Franziska Röntsch and Gerd Hegele (both Private Equity/Corporate, Frankfurt), partner David Harkness (Tax), partner Clare Hoxey (Pensions), partner André Duminy (Telecoms, Media and Technology) and partner Michael Crossan (Employment) – all London – as well as partner Marc Besen (Dusseldorf/Brussels) and senior associate Dr. Dimitri Slobodenjuk (Dusseldorf, both Antitrust).