Mersen to acquire GMI Group to consolidate its position in the United States

MERSEN TO ACQUIRE GMI GROUP  

TO CONSOLIDATE ITS POSITION IN THE UNITED STATES

•       The purchase will extend machining capacity for isostatic, extruded graphite and insulation materials in the US and reinforce the Group’s leading position on markets such as aerospace, process industries and energy.

•       The business will contribute c. 40 million USD in annual sales to Mersen.

Paris, July 1^st, 2024 – Mersen, a global expert in electrical power and advanced materials, announces today the acquisition of GMI group (Graphite Machining, Inc.), an expert in the purification and machining of graphite, carbon and graphite composites.

This new acquisition complements Mersen’s Advanced Materials footprint in the US, adding volume and transformation capacities of isostatic, extruded graphite and insulation materials and enabling synergies between the plants. It reinforces the Group’s leading position on markets such as aerospace, process industries and energies. Mersen will also leverage its global footprint to develop GMI’s complementary offer.

A family-owned company, GMI group employs approximately 200 employees located on 4 sites in the US, in the states of Pennsylvania and Michigan. The business will contribute c. 40 million USD in annual sales to Mersen and the acquisition represents an outflow of c. 50 million USD. The operation will be accretive to net income. It will be consolidated as of July 1^st in Mersen’s accounts.

Luc Themelin, Chief Executive Officer of Mersen, stated: “I’m delighted to welcome the team that has made GMI a leader in its field. GMI’s extensive graphite experience and dedication to customers will consolidate Mersen’s position in the United States and provide access to new markets for extruded graphite. These new manufacturing capacities will also be highly valuable for the potential projects in the United States in solar or nuclear microreactors.”  

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ABOUT MERSEN

Mersen is a global expert in electrical specialties and advanced materials for high-tech industries. With more than 50 industrial sites and 18 R&D centers in 33 countries around the world, Mersen develops custom-built solutions and delivers key products for clients in order to meet the new technological challenges shaping tomorrow’s world. For over 130 years, Mersen’s teams have focused tirelessly on innovation to accompany its clients and meet their needs. Be it in solar power, electronics, electric vehicles, aerospace or other sectors, wherever technology is progressing, you will always find a bit of Mersen. We work to constantly contribute to progress, striving daily to improve people’s lives and protect the planet. This corporate commitment has been recognized by external rating agencies, Ecovadis (Gold Medal) and MSCI (AA rating).

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INVESTOR AND ANALYST CONTACT                                       MEDIA CONTACT

Véronique Boca                                                                  Guillaume Maujean/Alexia Gachet

Mersen                                                                                Brunswick

Tel.: +33 (0)1 46 91 54 40                                                   Tel.: +33 (0)6 33 06 55 93

Email: dri@mersen.com        Email: mersen@brunswickgroup.com            

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