Saint-Gobain to sell its crystals and detectors business

The group says it has "entered into exclusive negotiations" for the sale of this activity to a consortium led by SK Capital Partners associated with Edgewater Capital Partners, two American private equity funds specializing in high-tech materials.

The latter have submitted "a firm and irrevocable offer to purchase for an enterprise value of 214 million US dollars", said the group.

Saint-Gobain hopes to finalize this transaction in the fourth quarter of 2022, after consultation with employee representative bodies and on condition of obtaining the green light from the regulatory authorities.

The activity employs approximately 400 people in six factories (two in France, three in the United States and one in India) and generated in 2021 a turnover of nearly 75 million euros with an adjusted EBITDA margin by about 20%.

It provides radiation detection solutions for medical imaging, security, nuclear safety, oil and gas exploration, and environmental monitoring, as well as sapphire products for medicine, industry, electronics and aerospace, the group said.

Saint-Gobain intends, through this transaction, to focus the activities of its "High Performance Solutions" division on markets where the group "enables its customers to accelerate their approach to carbon neutrality and circularity", as part of its strategic plan called "Grow & Impact".