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April 27, 2017 | Press Release

HQ Equita sells ISOLITE group to Hitachi Chemical

Frankfurt, April 27, 2017. HQ Equita has signed an agreement for the sale of ISOLITE Group (“ISOLITE”), a leading provider of thermal and acoustic management solutions for automotive, aviation, marine and industrial applications, to Hitachi Chemical Co., Ltd. (“Hitachi Chemical”). The parties mutually agreed not to disclose details of the transaction.

ISOLITE’s thermal and acoustic insulation and encapsulation solutions are, among other things, integrated in combustion engines, turbines, exhaust gas treatment components, batteries and stationary power generators for which they increase the operating efficiency of combustion processes, shield surrounding components and reduce emitted noise. Originating from the aerospace sector, ISOLITE complements its core expertise in “hot end”-applications reaching up to 1,600°C with “cold end”-technology and thereby acts as an integrated solution provider for its customers.

Based on proven material expertise, patented fiber technology and its application engineering capabilities, ISOLITE is a development partner of choice for a range of global blue chip customers. The company’s products enable OEMs to meet ever-stricter environmental regulations and CO2 emission standards, helping to achieve energy and fuel-saving targets and increasingly stringent acoustic requirements across multiple industries.

Exhibiting a high process stability and resource efficiency, ISOLITE’s flexible and intelligent machinery and technology deployment ensures that the company meets the requirements for both prototype and small-batch production as well as for large-series manufacturing. ISOLITE serves its international customer base from locations in Germany, the USA, South Korea and South Africa and, in addition, maintains international partnerships to extend both its geographical reach and its product offerings.

HQ Equita acquired ISOLITE in 2010 and has since supported the company in becoming a global leader and innovation-driven powerhouse for thermal and acoustic management. Through its targeted investment approach and close collaboration with management, HQ Equita has, for instance, developed the company’s automotive business from a small-batch niche towards large-series production. Measures jointly implemented by ISOLITE and HQ Equita include the increase of operational efficiency by introducing highly automated production technology, the international expansion of the production base now spanning four continents, the strengthening of the company’s differentiated materials competencies, and the targeted enlargement of the sales, R&D, design and management teams.

“With the acquisition of ISOLITE, Hitachi Chemical expands its material technology expertise as well as its automotive business. Hitachi Chemical has a clear vision for growth of the combined entities’ operations. Hitachi Chemical expects that its customers will greatly benefit from the combination of ISOLITE’s process and application expertise with Hitachi Chemical’s deeply rooted materials engineering excellence. Furthermore, through ISOLITE and its other subsidiaries, Hitachi Chemical is now able to provide a comprehensive solutions portfolio for thermal management, strengthening Hitachi Chemical’s ambition of becoming a global leader in the automotive sector,” said Hiroyuki Yamashita, Vice President and Executive Officer of Hitachi Chemical.

“ISOLITE is an excellent example of HQ Equita’s investment focus on ‘Mittelstand’ industrial champions with a differentiating technological and operational edge,” said Hans J. Moock, Managing Director of HQ Equita. “We are proud to have had the opportunity to support an outstanding management team in taking ISOLITE to the next level and firmly establishing the company on the international stage by adopting an entrepreneurial and industrial investment approach. With Hitachi Chemical, ISOLITE has found an ideal partner to continue on its successful growth path in the future.”

Christian Eck, Managing Director of ISOLITE, said: “The global reach of the combined group in addition to longstanding relationships with key players in Asia, Europe and North America provides an outstanding operational base for further development.” Matthias Kroll, Managing Director of ISOLITE, added: “Building on the materials expertise of both companies, the complementary technology portfolios present ample opportunity for joint developments to address the thermal and acoustic challenges of tomorrow’s markets.”

The closing of this transaction is subject to regulatory approval and other customary closing conditions.

HQ Equita was advised by DC Advisory (M&A), Alvarez & Marsal (Financial), Berylls Strategy Advisors (Commercial), and Watson Farley & Williams (Legal & Tax) on the transaction.