Canaccord Genuity Acts as Exclusive Financial Advisor to Saint-Gobain, S.A. on the Sale of its Crystals and Detectors Business (“SG Crystals”) to SK Capital Partners and Edgewater Capital Partners
Canaccord Genuity is pleased to announce that its client Saint-Gobain has completed the sale of SG Crystals to SK Capital and Edgewater Capital for an enterprise value of $214 million. The deal was previously announced back in September, though had to go through several of months of regulatory approvals before closing.
Headquartered in Hiram, Ohio with global facilities in the United States, France, and India, SG Crystals is recognized as a worldwide technology leader and provider of single scintillation crystals for radiation detection applications, as well as sapphire and garnet substrates for photonics and power electronics applications. The Company differentiates itself with deep R&D capabilities and expertise in crystal growth, packaging, and integration, as well as unique intellectual property supported by a portfolio of 174 patents. SG Crystals generated revenues of close to €75 million in 2021 with an adjusted EBITDA margin of around 20%.
Saint-Gobain is a worldwide leader in light and sustainable construction solutions. In the last 12 months the Company generated close to €50 billion of revenue and has over 160,000 employees.
SK Capital is a private investment firm with a disciplined focus on the specialty materials, specialty chemicals, and pharmaceuticals sectors. Edgewater Capital Partners is a sector focused private equity firm investing in lower, middle-market performance materials businesses. SK Capital will lead the investment with Edgewater acting as a meaningful minority shareholder with Board involvement.
In conjunction with the closing of the transaction, SG Crystals will be rebranded to “Luxium Solutions” as the Company continues its operations as an independent entity.