5N Plus receives regulatory approval to acquire AZUR SPACE
by CM Staff
The vertical integration of AZUR into 5N Plus creates a global enterprise with an ecosystem across the specialty semiconductor value-chain.
MONTREAL — 5N Plus Inc., a producer of specialty semiconductors and performance materials, announced that it has received the necessary approval from relevant regulatory agencies to acquire all of the issued and outstanding shares (the Transaction) of AZUR SPACE Solar Power GmbH. The Company expects the deal to close within the next few weeks.
“AZUR’s acquisition is a key element of 5N Plus’s strategic transformation toward critical material technology,” said Arjang Roshan, President and Chief Executive Officer of 5N Plus. “AZUR’s cutting-edge space technology and exceptional talent firmly and uniquely positions our company as a leader in the field of specialty semiconductors and engineered substrates at a time when these technologies are of paramount importance.”
Located in Heilbronn, Germany, AZUR is a company involved in the development and manufacturing of multi-junction solar cells based on III-V compound semiconductor materials. With experience in space solar cell manufacturing based on semiconductor technology, AZUR has a track record of patents and continued business.
“We are very excited about AZUR and 5N Plus coming together,” said Jürgen Heizmann, Managing Director of AZUR, who will join 5N Plus’s Executive Committee pending closure. “The long-standing trust and mutual respect between our businesses will ensure a successful integration, the results of which will unlock a well of untapped potential to serve rapidly scaling and essential markets.”
As a company involved in the development and manufacturing of II-VI compound semiconductor materials, 5N Plus has expanded its value chain to include the growth and manufacturing of a variety of semiconductor crystals and engineered compound semiconductor wafers. The vertical integration of AZUR into 5N Plus creates a global enterprise with an ecosystem across the specialty semiconductor value-chain, spanning from the procurement and processing of critical materials to the manufacturing of finished epitaxy engineered substrates.
The Specialty Semiconductor Triad (“Triad”) – is located across three sites in Canada, Germany and the United States. The Triad enables 5N Plus to provide solutions to a number of essential industries. This transaction is expected to benefit the Company’s current business within the renewable energy, security and space industries, while also enabling 5N Plus to enter new markets such as high-power electronics, electric mobility, wireless charging and advanced communications.
“AZUR’s addition to the 5N Plus family will make a material contribution to our electronic materials business,” said Richard Perron, Chief Financial Officer of 5N Plus. “AZUR is an established business supported by sustainable operating activities and relatively low integration complexity. The solid backlog of future business supported by a pool of best-in-class talent and a strong platform of technologies will elevate the combined capabilities of our two companies and enable future growth.”