Brooks Automation has entered into a definitive agreement to sell its Granville-Phillips instrumentation business, based in Longmont, CO, to MKS Instruments, Inc., headquartered in Andover, MA, for $87 million in cash. Granville-Phillips was founded in 1954, acquired by Helix Technology in 1998 and became part of Brooks through its merger with Helix in 2005. Granville-Phillips generated approximately $28 million in revenue in fiscal year 2013.
Dr. Steve Schwartz, CEO of Brooks, stated, "For many years, Granville-Phillips has been a stable, profitable business in a niche segment of the vacuum instrumentation market, but owning this business is not consistent with our strategy to expand our leadership positions in our core Semiconductor and Life Sciences market segments. We plan to invest the proceeds from this sale into growth opportunities that are consistent with our strategic initiatives."
"MKS is a world class global supplier of instruments, subsystem and process control solutions and we are confident that MKS will be a good home for the Granville-Phillips business and its employees while ensuring the highest levels of continuing service to our mutual customers."