UCT agrees to acquire Ham-Let
Ultra Clean Holdings to acquire Ham-Let (Israel-Canada) Ltd. for approximately $348 million, which includes $287 million of equity value plus $61 million of net debt. Ham-Let is into making of ultra-high purity and industrial flow control systems – valves, fittings, hoses and connectors mainly for producing complex semiconductor devices.
"Today's acquisition is another meaningful step in the execution of our long-term strategy to grow and diversify our business by adding complementary, high value, high margin product offerings to our growing portfolio of capabilities," said Jim Scholhamer, CEO. "Upon completion of this acquisition, UCT will be able to offer our existing semiconductor equipment customers a stronger and even broader set of offerings. UCT will also gain access to a new set of customers in the semiconductor fab infrastructure and sub-fab market, which represents an excellent platform for growth."
"This transaction represents a significant benefit to Ham-Let, its employees, its customers and its shareholders," added Amir Widmann, CEO of Ham-Let. "By leveraging UCT's global footprint, we can deliver a broader range of solutions and increase the combined company's strategic relevance to its customers. We look forward to working closely with UCT to ensure a smooth transition."
UCT says this acquisition broadens UCT's semiconductor SAM by more than $2 billion and provides access to a new set of customers in the semiconductor fab infrastructure and sub-fab market. Additionally, Ham-Let has current relationships with many Original Equipment Makers ("OEM") and Integrated Device Manufacturers ("IDM") customers and is currently a supplier to UCT.
Author: Srinivasa Reddy N