RENA Technologies (RENA) – a specialist manufacturer of equipment for wet-chemical surface treatment and part of the portfolio of funds advised by Equistone Partners Europe (Equistone) since 2019 – is selling its China solar business to Productive Technologies Company Ltd (PDT).
The financial terms of the transaction have not been disclosed.
RENA, headquartered in Guetenbach/Germany, was founded in 1993 and has grown into a global technology leader in the area of wet-chemical surface treatment. RENA’s products cover a range of technologically demanding and fast-growing areas in the industrial and technology sectors, such as semiconductors and wafering, batteries, renewable energy, glass treatment, medical technology and additive manufacturing.
After acquiring a majority stake in RENA in March 2019, Equistone supported the management team in implementing a successful strategy focused on expansion into new segments and increasing revenues. As part of this strategy, RENA acquired Austria-based HES (RENA Austria today), a specialist for the wet-chemical processing of 3D-printed metal components, and US-based MEI (RENA North America today), an experienced wet chemical equipment supplier for the semiconductor market, as well as supporting organic growth by diversifying into new end markets. Due to the strong growth of RENA’s other business segments in recent years, the relative significance of the China solar business has steadily decreased.
In the future, PDT will develop and manufacture solar wet-chemical equipment exclusively for Chinese customers, while RENA will continue to serve the global solar market outside China. RENA’s other business segments (Semiconductors, Wafering, MedTech, Glass, Additive Manufacturing) will remain unaffected by this transaction. RENA will continue to pursue these business areas globally, including in China.
