Key Takeaways
- • Hahn & Company seeking to divest Solmix at ~600 billion won valuation, approximately 67% above the 360 billion won acquisition price paid to SK Enpulse in February 2025, signaling value creation within one year of ownership.
- • Solmix targets 3rd-place market share in Korea's fine ceramics sector with established customer base and dual domestic and international production/sales infrastructure across silicon, silicon carbide, quartz, and alumina materials for semiconductor and display applications.
- • 2025 financial performance demonstrates operational improvement: Solmix generated 188.1 billion won in revenue with 30 billion won operating profit, providing measurable metrics for prospective buyers in competitive auction process.
- • Samil PwC advising on sale process with investment manuals distributed to select strategic and financial buyers, indicating organized competitive bid structure typical of mid-market PE exit transactions.
- • Hahn & Company leveraging fourth blind fund (4.7 trillion won total) to finance portfolio after concurrent acquisition of SK Enpulse's CMP pad division for 334.6 billion won earlier in 2026, demonstrating active portfolio consolidation strategy.
Summary
Hahn & Company, a South Korean private equity fund manager, is pursuing the sale of Solmix, a fine ceramics supplier acquired from SK Enpulse in February 2025 for 360 billion won. The desired sale price is approximately 600 billion won, representing a 67% uplift in valuation within a single year of ownership. The transaction marks an accelerated exit timeline, with the company engaging Samil PwC as financial advisor and distributing investment materials to prospective buyers as of late August 2026.
Solmix supplies fine ceramics materials—silicon, silicon carbide, quartz, and alumina—for semiconductor and display manufacturing processes. The company maintains the third-largest market share in Korea, supported by an established customer base spanning domestic and international markets, two production facilities within Korea, and two overseas sales offices. This diversified operational footprint and market position are expected to serve as key value propositions during the sale process.
The company's 2025 financial performance provides quantifiable evidence of post-acquisition improvements. Solmix recorded 188.1 billion won in sales and generated 30 billion won in operating profit, metrics that will likely be highlighted to potential buyers as indicators of operational efficiency and margin expansion. The sale timing coincides with persistent demand for semiconductor-grade materials as industry capacity utilization remains elevated.
Hahn & Company's portfolio activity reflects broader consolidation within the materials and advanced components sector. The firm simultaneously acquired SK Enpulse's chemical mechanical polishing (CMP) pad division for 334.6 billion won earlier in 2026, both transactions funded through the manager's fourth blind fund, which closed at 4.7 trillion won. This dual-asset strategy positions the PE firm to monetize complementary semiconductor supply chain assets within a favorable market window while maintaining selective exposure to the materials subsector through retained holdings.
Solmix supplies fine ceramics materials—silicon, silicon carbide, quartz, and alumina—for semiconductor and display manufacturing processes. The company maintains the third-largest market share in Korea, supported by an established customer base spanning domestic and international markets, two production facilities within Korea, and two overseas sales offices. This diversified operational footprint and market position are expected to serve as key value propositions during the sale process.
The company's 2025 financial performance provides quantifiable evidence of post-acquisition improvements. Solmix recorded 188.1 billion won in sales and generated 30 billion won in operating profit, metrics that will likely be highlighted to potential buyers as indicators of operational efficiency and margin expansion. The sale timing coincides with persistent demand for semiconductor-grade materials as industry capacity utilization remains elevated.
Hahn & Company's portfolio activity reflects broader consolidation within the materials and advanced components sector. The firm simultaneously acquired SK Enpulse's chemical mechanical polishing (CMP) pad division for 334.6 billion won earlier in 2026, both transactions funded through the manager's fourth blind fund, which closed at 4.7 trillion won. This dual-asset strategy positions the PE firm to monetize complementary semiconductor supply chain assets within a favorable market window while maintaining selective exposure to the materials subsector through retained holdings.
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