HEUKING advises Solarpark Blautal GmbH on the sale of its majority stake in centrotherm international AG to Ardian

A HEUKING team led by M&A lawyers Boris Dürr and Marcel Greubel has advised Solarpark Blautal GmbH (“SPB”) on the sale of its 90% stake in stock-listed centrotherm international AG (“centrotherm”) to private equity Investor Ardian. Ardian acquired the majority stake in centrotherm via Ardian Semiconductor, an innovative private equity platform focused on investments in the semiconductor industry. As part of the transaction, SPB will reinvest a significant portion of its sale proceeds and will thereby retain an indirect stake of approximately 39.5% in centrotherm. Following the requisite merger clearance, the transaction closed on December 17, 2025. The parties agreed not to disclose further details, in particular the purchase price.

The centrotherm group is a leading global technology company specializing in the development, production, and sale of high-temperature process equipment, with a long-standing track record as a supplier to both the semiconductor and photovoltaic industries. With more than 700 employees and branches in the USA, France, China, India, Japan, Korea and other countries, centrotherm group generated revenues of approximately EUR 240 million and EBITDA of approximately EUR 40 million in 2024. centrotherm shares are listed at Frankfurt Stock Exchange.

Solarpark Blautal GmbH is an investment company majority-owned by the Hartung family, who founded centrotherm more than 70 years ago and launched it on the stock exchange in 2007.

Ardian is one of the world’s leading independent private equity investor headquartered in Paris with approximately US$ 192 billion in assets under management. Ardian launched the Ardian Semiconductor platform through an exclusive partnership with Silian Partners, a team of recognized experts from the semiconductor industry.

Counsel Solarpark Blautal GmbH
HEUKING:
Boris Dürr, (Overall Lead),
Marcel Greubel, (Lead, both M&A),
Dr. Sebastian Pollmeier, (Corporate / M&A),
Marilena Schöck,
Felix Noack, (both M&A),
Markus Joachimsthaler, LL.M. (Capital Markets),
Peter M. Schäffler, (Tax),
Astrid Wellhöner, LL.M. Eur. (Employment), 
Dr. Reinhard Siegert, 
Dr. Ruth Jungkind, (both Antitrust), all Munich,
Dr. Bodo Dehne, (Investment Control), Düsseldorf,
Steffen Wilberg, (Real Estate),
Dr. Julia Mattes, (Trademark Law), both Munich