Materion Corporation Enters into Definitive Agreement to Acquire Heraeus’ Target Materials Business

Jones Day has advised Materion Corporation, a global supplier of highly engineered advanced enabling materials, in its acquisition of the global high-performance target materials business, from the Hanau-based Heraeus group.

The acquisition is expected to be consummated in the first quarter of 2017, subject to the satisfaction of regulatory approvals and customary closing conditions.

Negotiations for Heraeus’ magnetic data storage business in Singapore continue and are not included in the definitive agreement announced today. Materion and Heraeus decided to proceed with the principal portion of the proposed acquisition announced in May 2016 in order to begin the regulatory approval process that is not expected to be required for the magnetic data storage business.

Heraeus’ target materials business generates approximately $60 million in annual value-added sales. The transaction purchase price is approximately $30 million, which represents a 6 times multiple of EBITDA. The target materials business is forecasted to be accretive to earnings in 2017.

Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.

Jones Day advised Materion Corporation on the deal with a team led by Stefan Schneider.

Involved fees earner: Stefan Schneider – Jones Day;

Law Firms: Jones Day;

Clients: Materion Corporation;