CCMP Completes Acquisition of BOC Edwards from The Linde Group
Thursday May 31, 11:42 am ET
Vacuum equipment manufacturer well-positioned for growth and new opportunities
LONDON--(BUSINESS WIRE)--CCMP Capital is pleased to announce the completion of its acquisition of BOC Edwards, a leading manufacturer of vacuum equipment used in a wide variety of high technology industries. This marks BOC Edwards' return to independent status almost 40 years after it was acquired by BOC.
CCMP Capital, through funds managed by CCMP Capital Advisors, LLC and CCMP Capital Asia Limited, completed the deal with The Linde Group, the global gases company, within 3 months of its signing on 12th March, which was subject to regulatory review and other closing conditions. Linde had previously announced the divestment following its acquisition of The BOC Group in September 2006.
BOC Edwards is a leading global supplier of equipment and services to the world's most advanced industries, including semiconductor, flat panel display, chemical, metallurgical, analytical instrumentation and R&D. It supplies major customers in Asia, Europe and the Americas through a worldwide manufacturing and sales network. Its turnover in 2006 was over $1bn.
Commenting on the announcement Nigel Hunton, Chief Executive of BOC Edwards, said: "In the last 40 years our business has grown out of all recognition. We feel that our return to independent status, with a strong partner in CCMP, makes us well placed for success as we transition to our next phase of development"
Stephen Welton from CCMP Capital Advisors added: "We believe that as an independent company BOC Edwards is ideally positioned to drive further growth in core existing markets such as semiconductors with an exciting range of new products coming through, whilst actively developing in new emerging markets such as solar where we will focus considerable additional resources."
John Lewis from CCMP Capital Asia, commented: "BOC Edwards has been present in Asia for a large proportion of the last 40 years and as global electronics and technology production resources become more concentrated in Asia, we expect BOC Edwards to prosper. CCMP's presence and experience in these markets brings extra impetus to this opportunity."
About BOC Edwards
BOC Edwards is a leading supplier of integrated solutions for the manufacture of microelectronics devices, including semiconductors and flat panel displays. It is also a world leader in vacuum technology for industrial, scientific, process, and R&D applications. BOC Edwards employs around 4,000 people globally, in the design, manufacture and support of high technology vacuum equipment. BOC Edwards invented the concept of the commercial oil-free 'dry' vacuum pump and now supplements this with a wide range of other pumping technologies as well as related products and services.
About CCMP Capital
CCMP Capital Advisors, LLC investment team has invested approximately $12 billion in over 380 buyout and growth equity transactions since 1984. The foundation of CCMP Capital's investment approach is to leverage the combined strengths of its deep industry expertise and proprietary global network of relationships by focusing on five targeted industries: Consumer, Retail and Services; Energy; Healthcare Infrastructure; Industrials; and Media and Telecom. Through active management and its powerful value creation model, CCMP Capital's team has established a reputation as a world-class investment partner. Selected investments include: AMC Entertainment, Aramark Corporation, Generac Power Systems, Grupo Corporativo ONO, Hanley Wood, Harbor Point Re, PQ Corporation, Quiznos Sub, SafetyKleen Europe and Warner Chilcott. Prior to forming CCMP Capital, the firm's principals led the buyout and growth equity investment business of J.P. Morgan Partners, LLC, a private equity division of JPMorgan Chase & Co. CCMP Capital follows the successful investment strategy its principals developed and implemented as members of JPMorgan Partners.
CCMP Capital is a registered investment adviser with the Securities and Exchange Commission.
About CCMP Capital Asia
CCMP Capital Asia is one of the largest and most experienced buyout firms in Asia, with US$2.7 billion in capital commitments under management. Since its launch in May 1999, CCMP Capital Asia has advised on total investment commitments of approximately US$2.25 billion in 26 companies with total transaction value of over US$10 billion. The commitments are spread across Asia in CCMP Capital Asia's focus markets of Australia and New Zealand, Greater China (including China, Hong Kong, and Taiwan), Japan, Singapore, and South Korea. CCMP Capital Asia's core strategy is to target control investments in market leading companies with strong cash generative business models, high barriers to entry and differentiating capabilities or products. In particular, the firm focuses on companies where it is able to utilize its operationally driven business model to create value and drive returns.
Source: CCMP Capital
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