Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire the cryogenic business of Brooks Automation, Inc., for a total value of MUSD 675 (MSEK 6239).
Brooks Automation, Inc., (NASDAQ BRKS), founded in 1978, is listed on the Nasdaq Stock Exchange.
The acquisition includes cryo pump operations located in Chelmsford, USA and Monterrey, Mexico, a worldwide network of sales and service centers, and Brooks Automation’s 50% share of Ulvac Cryogenics, Inc., (UCI).
The cryogenic business, which is headquartered in Chelmsford, MA, has about 400 employees and revenues of approximately MUSD 195 (MSEK 1777) in the last 12 months. The revenue for the joint venture is not included in this number. UCI is a joint venture with Ulvac, Inc., a company listed on the Tokyo stock exchange (6728.T). UCI had total revenues of approximately MUSD 100 (MSEK 911) in the fiscal year ending June 2017.
“The acquisition of Brooks Automation’s cryogenic business gives us access to new technologies and products and complements our current offering for semiconductor chamber solutions,” said Geert Follens, President of Atlas Copco’s Vacuum Technique business area. “We will use the strength of Atlas Copco’s global presence in vacuum, to extend the application of the acquired products and technologies to general industry and the emerging medical and energy markets.”
Brooks Automation is a market leader in advanced cryo pumps and associated products for the semiconductor industry through its CTI-Cryogenics and Polycold brands. The acquired business will significantly expand Atlas Copco’s technology offering to customers in the semiconductor and general vacuum industries through the Edwards business, a brand in the Atlas Copco Group.
The acquisition complements Atlas Copco’s existing technology portfolio with a new range of high vacuum pumps that optimize the removal of water vapour and hydrogen, which is critical to many semiconductor and industrial processes.
The acquisition is an all-cash transaction utilizing Atlas Copco’s existing funds and is subject to regulatory approvals. The acquisition is expected to be completed during the first quarter of 2019. The acquired business will become part of the Semiconductor and Semiconductor Service divisions within Atlas Copco’s Vacuum Technique business area.