Growth equity firm Element Partners has formed Soleras Advanced Coatings through the acquisition of Industrial Coatings Division of Belgium-based industrial group Bekaert and has appointed Maurice Murphy as CEO to head the new company.
Soleras Advanced Coatings will provide equipment and advanced material targets used in the deposition of thin film coatings in large area applications, Murphy said.
“I am delighted to be leading Soleras Advanced Coatings. We have created a platform with tremendous talent and outstanding technical knowhow. We are excited to expand our capabilities to better serve our existing and future customers.”
Michael Bevan, a managing director at Element, added, “We are combining two outstanding companies, with a range of complementary technologies, to create the world’s leading manufacturer of rotatable targets and equipment.”
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