Published June 14, 2013
NEW YORK/FRANKFURT – Cinven Ltd is in exclusive talks to buy CeramTec, the industrial ceramics unit of U.S. chemicals maker Rockwood Holdings Inc , for close to 1.5 billion euros ($2 billion), three people familiar the matter said on Friday.
Cinven beat rival private equity firm BC Partners Ltd in the final bidding for CeramTec, the people said. A deal could be announced in the next few days, they added, but cautioned the talks could still fall apart.
The people spoke on condition of anonymity because the talks are confidential. Cinven and BC Partners declined to comment, while Rockwood could not immediately be reached for comment.
CeramTec, founded in 1903, makes ceramics used in thousands of products from water treatment filters to electronic components in factory robots.
(Reporting by Greg Roumeliotis in New York and Philipp Halstrick in Frankfurt. Editing by Andre Grenon)