Materion plans new term loan for H.C. Starck electronic materials buy

By Sara Rosenberg

New York, Sept. 20 – Materion Corp. plans on getting a new five-year term loan and use $80 million of borrowings under its existing $375 million revolving credit facility to fund its acquisition of H.C. Starck Solutions’ electronic materials business, according to a company presentation.

The term loan is expected to have the same terms as the existing revolver and be prepayable at par.

Pro forma net leverage is anticipated to be around 2.9x at close, with the plan being to delever to below 2x by 2023.

The Newton, Mass.-based electronic materials business is being bought for $380 million.

Closing is expected in the fourth quarter, subject to customary conditions, including regulatory approval.

Materion is a Mayfield Heights, Ohio-based supplier of highly engineered advanced enabling materials to global markets.

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