Newport-headquartered SPTS Technologies has been acquired by Israeli company, Orbotech, in a deal worth £215 million ($370m).
SPTS Technologies manufactures wafer processing equipment for the semiconductor industry. The business has manufacturing plants in Newport, Pennsylvania and California and operates across 19 counties in Europe, North America and Asia-Pacific.
Orbotech has purchased SPTS from the European private equity firm, Bridgepoint, to accelerate its growth and diversification strategy and expand its presence in Europe and North America, as well as provide SPTS with a greater reach throughout the Pacific region, particularly in China.
“This is an exceptional opportunity to bring together two proven leaders both operating at the cutting-edge of consumer electronics manufacturing,” said Kevin Crofton, president and chief operating officer at SPTS.
“Together, we will be a powerhouse of expertise in micro manufacturing, providing a broad solution set of mission-critical capabilities to serve designers and manufacturers across the dynamic electronics industry landscape. We are excited about the opportunity to leverage Orbotech’s strong presence in the Pacific as well as its products and technologies.”
Orbotech has been at the cutting edge of the electronics industry supply chain for more than 30 years. The business is a provider of production solutions for manufacturers of printed circuit boards, flat panel displays and other electronic components for consumer and industrial products.
Asher Levy, chief executive officer of Orbotech, said: “Orbotech and SPTS are complementary in many ways. By combining the extensive know-how and core assets of both companies we will continue to enhance Orbotech’s portfolio and industry leadership while focusing our efforts on driving profitable growth.”
SPTS Technologies was recognised as one of Wales’s top exporters after receiving a Queens Award for Enterprise in the international trade category in 2013, during which time the business exported more than 95% of its products.
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