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Element Partners completes Soleras Advanced Coatings acquisition

4 Apr 2012

Growth equity firm Element Partners has finalised the formation of Soleras Advanced Coatings through the acquisition of Industrial Coatings Division of Belgium-based Bekaert and has appointed Maurice Murphy as CEO to head the new company.

He commented, ‘I am delighted to be leading Soleras Advanced Coatings. We have created a platform with tremendous talent and outstanding technical knowhow. We are excited to expand our capabilities to better serve our existing and future customers.’

Soleras Advanced Coatings will provide equipment and advanced material targets used in the deposition of thin film coatings in large area applications, a statement said.

Michael Bevan, a managing director at Element, said, ‘We are combining two outstanding companies, with a range of complementary technologies, to create the world’s leading manufacturer of rotatable targets and equipment.’

Ben Weinberg, a principal at Element, added, ‘We are excited about the synergies of Soleras and Bekaert Advanced Coatings. The combination of knowledge and technological expertise will dramatically improve the way the new company can serve its customers.’

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