At what enterprise value was CERAMTEC acquired in 2021?

During the acquisition of CERAMTEC by BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) in 2021, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Industry & Manufacturing industry currently tracks an average EBITDA multiple of 11.6x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of CERAMTEC when it was acquired by BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD)?

The estimated EV/EBITDA multiple for CERAMTEC is in the range of 15x - 25x. For comparison, the Industry & Manufacturing sector currently shows an average EBITDA multiple of 11.6x. Join our community for free to access full valuation data and industry trends.

When was CERAMTEC acquired by BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD)?

CERAMTEC was acquired by BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) in 2021.

What was the revenue of CERAMTEC at the time of the deal?

The revenue of CERAMTEC at the time of the deal is estimated to be in the range of 450M - 900M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of CERAMTEC during the acquisition?

CERAMTEC's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the CERAMTEC acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CERAMTEC deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.unquote.com/dach/official-record/3024765/bc-partners-reacquires-ceramtec-alongside-cpp

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Home Database Industry & ManufacturingCERAMTEC

08/2021

BC PARTNERS & CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) take majority stake in CERAMTEC

GERMANY Chemicals & Materials / Material Transformation / Glass & Ceramics EV 3b - 100b EUR

Context

Private equity firm BC Partners and the Canada Pension Plan Investment Board (CPPIB) have partnered to acquire advanced ceramics producer CeramTec. Following the completion of the deal, BC Partners and CPPIB will each hold a 50% equity stake in the company. The transaction facilitates the buyout of the stake previously held by BC Partners alongside its co-investors, which included the Ontario Teachers' Pension Plan (OTPP), Public Sector Pension Investment Board (PSP), Credit Suisse, and Adam Street Partners. Moving forward, BC Partners is deploying capital through its BC Partners Fund XI vehicle, while the deal concurrently marks the first realization for BC Partners Fund X. Prevailing as the highest bidder in the sale process, CPPIB is making an initial capital contribution of approximately EUR 800 million. The transaction is strategically intended to allow BC Partners to realize additional value within the platform. Together with CPPIB, the sponsors plan to continuously take advantage of further potential growth opportunities operating within the medical technology space. During its prior holding period under BC Partners, CeramTec successfully executed robust operational improvements, strengthened its medtech operations, and significantly developed its product pipeline.

In the past, the company had already been the subject of several LBOs, notably led by Cinven in 2013 and Bc Partners in 2017. This succession of buyouts highlights the strong attractiveness of the company's business model.

CERAMTEC, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.6x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

CeramTec is a German manufacturer of high-performance industrial ceramics, founded in 1903 as Thomaswerke and renamed CeramTec after its acquisition by the chemical group Hoechst in 1985. The company produces ceramics for various markets, including medical, automotive, industrial, and electronic, and employs over 3,400 people across 20 sites worldwide. The group offers a range of proprietary products, including high-quality hip replacement implant components, high-speed cutting tools, and electrical and thermal ceramic solutions. CeramTec has become a leading player in its sector due to its technical expertise, simplified organization, and international expansion, particularly in the United States and China.

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List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
10/2017	BC PARTNERS	CERAMTEC	GERMANY	Chemicals & Materials	Private equity sponsor Cinven has entered into a definitive agreement to divest CeramTec, a leading German manufacturer of high-performance ceramics, to a bidding consortium led by BC Partners. The acquiring consortium also features significant equity participation from the Public Sector Pension Investment Board (PSP Investments) and the Ontario Teachers’ Pension Plan. The realization perfectly encapsulates the culmination of a highly successful holding period characterized by robust value creation and corporate transformation under Cinven's ownership
06/2013	CINVEN	CERAMTEC	GERMANY	Chemicals & Materials	European private equity firm Cinven has reached a definitive agreement to acquire CeramTec from Rockwood Holdings, Inc. (NYSE: ROC). Representing the fourth investment deployed from Cinven’s Fifth Fund, the transaction remains subject to customary regulatory approvals and is expected to reach completion during the third quarter of 2013. For the seller, Rockwood Holdings, the divestiture is being executed as part of a broader strategic repositioning of the overall Group. The investment strongly aligns with Cinven’s deep sector expertise across both the industrials and healthcare markets

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CERAMTEC by BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD) are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: ceramtec

Acquirer: cppib (canada pension plan investment board) / bc partners