 |
Hahn & Company. (Photo = Hahn & Company) |
[Alpha Biz= Kim Jisun] South Korean private equity firm Hahn & Company is moving to sell Solmics, a semiconductor components manufacturer, just over a year after acquiring the company. Solmics was formerly the fine ceramics division of SK Enpulse, which Hahn & Company purchased in February 2024.
According to sources in the investment banking industry on May 8, Hahn & Company has quietly begun the sale process and recently appointed Samil PwC as financial advisor. Investment memorandums (IMs) have been selectively distributed to a small number of potential buyers.
The firm is reportedly seeking a sale price of approximately KRW 600 billion, compared to its acquisition cost of KRW 360 billion last year.
Founded in 1995, Solmics manufactures fine ceramics used in semiconductor and display production processes. Its products are made from materials such as silicon, silicon carbide, quartz, and alumina. The company was integrated into the SK Group in 2008 as part of SK Enpulse and became independent again in 2024 upon acquisition by Hahn & Company. In 2024, Solmics reported revenue of KRW 188.1 billion and operating profit of KRW 30 billion.
Solmics was originally put on the market two years ago during SK Group’s business restructuring efforts. Hahn & Company acquired the firm through its fourth blind fund in February 2024. Earlier this year, the PE firm also acquired SK Enpulse’s CMP (Chemical Mechanical Polishing) pad business unit for KRW 334.6 billion. This division specializes in polishing semiconductor wafer surfaces.
While there had been speculation that Hahn & Company might merge Solmics with the newly acquired CMP pad business to create synergies, the firm has instead decided to divest Solmics. An industry insider commented, “Hahn & Company appears to be focusing its resources on the CMP pad business going forward.”
Hahn & Company is marketing Solmics’ strong market position—ranked third domestically—as well as its diverse customer base spanning chipmakers and equipment manufacturers both in Korea and overseas. The company also boasts two domestic production sites and two international sales hubs, which are highlighted as key investment attractions.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
