DC Advisory advised MOMQ Holding Company on its USD 180M acquisition of CoorsTek Nagasaki Corporation

Background

• Based in the US, MOMQ Holding Company (MOMQ) is a special purpose acquisition vehicle which operates in the specialty chemicals space
• MOMQ is a global leader in the development and manufacturing of fused quartz and non-oxide based ceramic powders and shapes, with its materials used across a variety of sectors including Industrials, Healthcare and Aerospace
• Wonik Qnc Corporation - a South Korea-based quartz and ceramic product manufacturer- is the largest shareholder of MOMQ with a 50%+1 share
• Based in Japan, CoorsTek Nagasaki Corporation (CoorsTek) is a manufacturer of synthetic quartz glass materials and heat-resistant materials used for semiconductor production
• CoorsTek is owned by CoorsTek, Inc., a US-based producer of engineered ceramics

Process

• DC Advisory (DC) was engaged by MOMQ to act as exclusive financial arranger on the acquisition of CoorsTek
• DC managed the lender reach-out process on behalf of MOMQ, settling on an undisclosed lender to partially finance the acquisition

Outcome

• On November 1, 2022, MOMQ agreed to acquire a 100% stake in CoorsTek from CoorsTek, Inc.
• The acquisition will allow MOMQ to combine expertise and economize its semiconductor production businesses
• This transaction further demonstrates DC’s successful track record executing cross-border transactions within the Industrials sector