Frog Capital, the London-based firm that invests growth capital in cleantech and IT & digital media businesses, today announced that it has doubled its stake in portfolio company SiC Processing AG through the purchase of holdings from other shareholders.
Established in 2000, German-based SiC Processing is the market leader, with some 70% market share, in the recycling and supply of the wafer cutting fluids used to produce silicon wafers for solar panels and semiconductors. Recycling these fluids offers substantial savings over new materials and reduces waste accumulation.
The company has worldwide presence with production sites in the USA, China, Germany, Norway and Italy, and counts the leading solar and semiconductor wafer producers amongst its customers.
SiC Processing, which raised €53m in 2007 led by Zouk Ventures and joined by Merrill Lynch, MASDAR and Frog Capital amongst others, is profitable and expects revenues approaching €100m this year.
Iyad Omari, who leads Frog’s cleantech investments, commented: “We are delighted to be raising our stake in SiC Processing. The Company has performed very well since our investment in 2007 and is a shining example of the fast and profitable growth that can be achieved in cleantech.”
Frog’s cleantech portfolio comprises companies in rapidly developing and sustainable sectors, ranging from industrial waste recycling to water treatment, energy and energy efficiency.
Frog Capital rebranded earlier this year at the same time as increasing its funds for investment from €60m to €100m. While the size of its new investment in SiC Processing is not being disclosed, Frog leads or works in partnership on deals from between €2m to €20m with growth stage companies in its chosen sectors.
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For further information, please contact:
Sally Brown or Chantal Ligertwood, PR for Frog Capital
07917 091 782 sally@ligertwood.net / 07976 229 210 chantal@ligertwood.net
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About Frog Capital
Frog Capital is a London-based investment partner to some of Europe's most ambitious growth-stage companies. Frog invests across the cleantech and IT & digital media sectors, where disruptive forces are strong, leading or partnering in fundings of €2 million to €20 million expansion capital, minority purchases, management buy-outs, or acquisitions. Occasionally, Frog invests in quoted companies. The firm’s cleantech investments include SiC Processing, Ostara Nutrient Recovery Technologies, Hydrodec and Solar Century. www.frogcapital.com