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Edwards has agreed to acquire Ceres Technologies, Inc., a US-based manufacturer and designer of gas and vapour delivery equipment for the semiconductor industry. The acquired business will operationally become part of the Semiconductor division, operating under the Edwards brand.
The acquisition includes assets of two affiliates, North Park Metalworkers, Inc. and Peak Precision Technologies, Inc. In 2021 they had revenues of approximately MUSD 41 (MSEK 351). The acquired companies have around 185 employees.
Ceres Technologies, Inc. was founded in 2011 and is located in the Hudson Valley, New York area. As well as providing gas and vapour delivery equipment Ceres also provides contract manufacturing of process tools for OEMs and research organizations, and engineering services for semiconductor and industrial customers.
North Park Metalworkers, Inc. produces welded enclosures, frames and machined parts, and is also located in the Hudson Valley, New York area.
Peak Precision Technologies, Inc. supplies precision welded and brazed fabrications, and is located in Fort Collins, Colorado.
Kate Wilson, President of Edwards Semiconductor, said: “This is an exciting milestone for Edwards’ semiconductor business. The Ceres acquisition will allow us to expand our liquid chemical dispense offer globally through additional technology and know-how. It is also a valuable step forward in responding to the increased need to recycle and reuse gases in semiconductor process technology and improve sustainability in line with the industry’s environmental objectives. I look forward to the benefits that this acquisition will bring to the ongoing growth of our semiconductor business and the breadth of products and service we are able to offer our customers.”
Ceres CEO Kevin Brady, added: “The joining of Ceres to the Edwards team is an excellent strategic fit. Ceres ability to develop and manufacture world class semiconductor and process equipment and our technically superior molecule delivery platforms along with Edwards market positioning, distribution channels and financial capability will further accelerate the growth and deployment of Ceres offerings. Ceres skills and attributes will prove valuable in the Edwards global product solutions business and facilitate and complement new and exciting projects and programs already envisioned collectively. We look forward to our new journey as part of the Edwards team.”
The purchase price is not disclosed. The acquisition is subject to regulatory approvals and is expected to close during the second quarter of 2022.