Silex Microsystems returns to Swedish ownership
Pure-play MEMS foundry Silex Microsystems, is once again Swedish-owned. A consortium of Swedish investors, led by Bure Equity and Creades, has entered into an agreement to acquire a majority stake in the company from the current main owner, Chinese Sai Microelectronics.
The deal, announced on Friday, values Silex at SEK 5.5 billion (USD 580 million) and will shift majority control to Swedish hands for the first time in a decade.
The ownership change is highly significant. Silex was founded in Sweden 25 years ago but was sold in 2015 to the Chinese company Nav Technology, a subsidiary of Sai Microelectronics. Since then, the company has grown rapidly, with 2024 revenues reaching SEK 1.2 billion and an EBIT margin of 28%. However, Chinese ownership has also posed serious challenges for the company — especially in light of rising geopolitical tensions around semiconductors and critical infrastructure.
One major setback came in 2022 when the German government blocked Silex’s planned acquisition of Elmos' wafer fab in Dortmund, citing national security concerns. The deal was stopped after the German economy ministry deemed the risk of technology transfer to China too great.
Silex's expansion plans in Sweden have also become politically sensitive. In 2024, the company sought approval to expand its facility and double its production in Järfälla. Although the municipality greenlit the plans, local politicians from both the Social Democrats and the Moderate Party publicly appealed to the Swedish government for support in halting the project — pointing to concerns over Chinese state connections and national security.
The new ownership structure aims to put an end to these concerns. In addition to Bure and Creades, the consortium includes Grenspecialisten, 3S Invest, the SEB Foundation, and TomEnterprise. Together with the company’s management and founders, the group will control around 55% of Silex, while Sai Microelectronics retains a minority stake of 45%.
"Becoming a Swedish majority-owned company again, will also benefit our continued growth as we operate in a more complex geopolitical context. The demand for MEMS is growing and we look forward to continuing our expansion together with our new owners," says Silex CEO and founder Edvard Kälvesten in the press release.
Patrik Tigerschiöld, Chairman of Bure, is slated to become the new Chairman of Silex, and John Hedberg, CEO of Creades, will join the board. The Transaction is subject to regulatory approvals and is expected to close in the third quarter of 2025.
