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[February 2006]
WAM Acquires CERAC
Williams Advanced Materials Inc (Buffalo, NY, USA), or WAM, has acquired the privately held CERAC Inc, a leading provider of physical vapour deposition (PVD) and speciality organic materials.
KeyBanc Capital Markets acted as advisor to WAM's parent company, Brush Engineered Materials Inc(Cleveland, OH, USA), for the transaction. The purchase price was approximately US$25 million and Brush expects the transaction to be accretive in 2006.
Williams and CERAC share a long history of product innovation and market growth in the optics industry. In recent years, CERAC materials have been supplied to coat the lenses for WAM's Visi-Lid(tm) window assemblies for hermetically sealing optoelectronic devices. Bringing CERAC into the Williams organisation will enable WAM to support the continued growth of these products.
CERAC, with 2005 revenues of around US$20 million, has 120 employees at its facility in Milwaukee, WI, USA.
The purchase of CERAC is the second acquisition for WAM in recent months and the third within the past year. It and its subsidiaries had already acquired Thin Film Technology Inc (Buellton, CA, USA) and OMC Scientific Holdings Ltd (Limerick, Republic of Ireland).
www.cerac.com
ENDS