Philips intends to sell the majority of Assembléon

Royal Philips Electronics announced today that it intends to sell a majority stake in its subsidiary Assembléon to H2 Equity Partners, an independent private equity firm. H2 Equity Partners will take an 80% stake in the company and Philips will retain 20% once the transaction, which is subject to the advice of the works council and customary regulatory filings, is completed. Assembléon, with headquarters in Veldhoven, the Netherlands, is a global supplier of surface mount technology pick & place solutions for the electronics manufacturing industry. The company has regional offices in Alpharetta and Hong Kong and employs just over 400 people.