Trelleborg to acquire specialty seal company MNE Group

Trelleborg, Sweden – Trelleborg has, through its business area Trelleborg Sealing Solutions, signed an agreement to acquire MNE Group, consisting of the companies Materials Nano Engineering and Materials Nano Solution. The transaction is expected to be completed in the first quarter of 2024.

“Through MNE Group, we gain established customer contacts with some of the world’s largest semiconductor manufacturers in the largest local market for semiconductors globally. With South Korea as a base, we plan to grow further in other Asian markets,” says Peter Hahn, Business Area President for Trelleborg Sealing Solutions.

“We see significant potential for future sales synergies as this is a prioritized growth area for Trelleborg. The combination of MNE Group’s expertise and local capacity, along with Trelleborg’s technology, R&D, and global network, allows us to accelerate growth in this rapidly expanding and profitable market segment,” continues Peter Hahn.

MNE Group is a South Korean company primarily focused on manufacturing high-performance specialty seals for both the aftermarket and OE manufacturers of semiconductor production equipment. The headquarters and manufacturing facility are located in Yongin, just outside Seoul.

MNE Group is expected to generate approximately SEK 300 M in revenue in 2023 with an EBITA margin in line with the Trelleborg Sealing Solutions business area. The purchase price amounts to approximately SEK 650 M on a cash and debt-free basis.

Semiconductor chips are manufactured in high-tech facilities with extreme requirements for purity and plasma resistance. Process tools and manufacturing equipment require special seals that offer outstanding performance in sealing these applications. Devices that integrate electronic components, such as sensors, wireless communication, robotics, computer technology, and vehicles, depend on semiconductors to enable their functionality.