Kymera acquires Fiven to expand specialty materials portfolio
June 12, 2024
Kymera International, a speciality materials company headquartered in Raleigh, North Carolina, USA, has signed an agreement to acquire Fiven ASA from OpenGate Capital. The deal is expected to close following customary regulatory approvals.
With production facilities in Norway, Belgium and Brazil, as well as a global distribution network, Fiven works in the development of technically advanced silicon carbide materials for a wide range of high-growth end markets. Through its recent R&D initiatives, Fiven has developed and marketed high-purity materials for the power electronics industries such as semiconductors and lithium-ion batteries.
“Fiven has all of the strong attributes we look for in an acquisition. They have an excellent reputation for quality and service, are aligned with Kymera’s strategy of focusing on attractive end markets such as electronics, aerospace and defence, and have an outstanding management team and dedicated workforce,” Barton White, CEO of Kymera, commented. “We are excited to partner with Falk and his team to continue growing Fiven and capitalise on the numerous operational and commercial synergies we have already identified.”
Kymera has been owned by affiliates of Palladium Equity Partners, LLC, a middle market private equity firm with over $3 billion in assets under management, since 2018.
“The acquisition of Fiven will accelerate Kymera’s mission to become a high-growth specialty materials and chemicals platform, and unlocks substantial organic growth opportunities for the combined business,” added Adam Shebitz, Partner at Palladium Equity Partners. “Altogether, Kymera is well on its way towards achieving Palladium’s investment objectives, having more than tripled in size from our initial investment, while creating a more resilient business oriented towards the industries of tomorrow.”
The terms of the transaction were not disclosed.
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