Industry Investment, InnovationsKapital and Tempo Capital Partners invest MEUR 6 in Silecs Oy

Investments in companies - 19.1.2009

Government-owned investment company Finnish Industry Investment Ltd, Swedish InnovationsKapital and British Tempo Capital Partners have invested altogether MEUR 6 in the Finnish company Silecs Oy. Silecs develops speciality chemicals and coating materials for the semiconductor industry that are used, for instance, in flat panel televisions, digital cameras, solar cells, LED light applications and memory cards for consumer electronics appliances.

The company’s customers are semiconductor and advanced electronics manufacturers, of which the majority are located in the Asia-Pacific region. The company’s patented technology helps its customers to enhance products process yield; performance; picture quality; and color fidelity; and fit into miniaturized circuits with longer life span. Silecs collaborates with leading manufacturers to customise products leveraging its flexible, eco-friendly and cost-effective manufacturing processes.

“We’ll use the capital received to strengthen our sales and marketing. This year, we plan to secure several new major customer relationships. The global market for related electronic material and chemicals is forecast to reach USD 35 billion by 2010. We are well positioned in this growing sector,” says Silecs’s CEO Kok Whee Teo.

“Silecs has made a global breakthrough in extremely demanding hi-tech applications,” comments Industry Investment’s Director Henri Grundstén on Silecs’s global approach.

Established in 2001, Silecs Oy has a plant and R&D facilities in Espoo, Finland, and has subsidiaries in, among other places, Singapore and Hong Kong, with sales and marketing focus on the Asia-Pacific region, and selective leading global customers´ R&D sites.

 

InnovationsKapital is a leading independent venture capital firm in the Nordic region with capital commitments of MEUR 317 in four funds. The company invests in early stage and growth companies. Since 1994, InnovationsKapital has made over 60 investments and a number of successful exits in the life sciences and technology sectors. www.innkap.se

 

Tempo Capital Partners LLP is one of the leading secondary investment firms in Europe. Tempo has some MEUR 200 of capital commitments comprised of some 30 active investments. Tempo Capital’s focus is mainly in Europe, but the company’s funds have a number of investments in the USA and Asia. www.tempo-cap.com

Silecs Oy is an innovator of enabling materials used in the microelectronics industry, particularly for semiconductor, flat panel display manufacturing and solar cell applications. Founded in 2001, Silecs has its headquarters in Espoo, Finland, together with the company's innovation center, with research, development and a world-class ISO 9001 and ISO 14000 certified manufacturing operation. Silecs also provides local and regional customer support through an extensive global network. www.silecs.com

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings. The investments of Finnish Industry Investment amount to some MEUR 570. www.industryinvestment.com


Further information:

- Hannu Hiillos, Vice President of Finance, Silecs Oy, tel. +358 40 523 5383, hhiillos (at) silecs.com

- Henri Grundstén, Director, Finnish Industry Investment Ltd, tel. +358 50 431 0840, henri.grundsten (at) industryinvestment.com