© mikael damkier dreamstime.com
UCT completes acquisition of Ham-Let
Ultra Clean Holdings (UCT) has completed the acquisition of Ham-Let (Israel-Canada) Ltd. for approximately USD 351 million. The acquisition expands UCT's addressable market in semiconductors
Ham-Let Group is a developer, manufacturer, and distributor of industrial flow control systems – connectors, fittings and valves for high pressure and high temperatures transmission systems (gases and liquids). Ham-Let customers include semiconductor equipment manufacturers and chip makers. "The timing of this acquisition is ideal as growing semiconductor demand and increased device complexity are creating significant business opportunity," says UCT CEO, Jim Scholhamer in a press release. "The addition of Ham-Let's high value, process instrumentation and flow control systems to our current set of offerings adds even more value to, and deepens our partnerships with our customers as we work together to solve the challenges of today's semiconductor industry. The combination of these products and capabilities will provide an excellent growth platform." Under the terms of the agreement, the total transaction value is approximately USD 351 million and is being structured as an all-cash transaction. UCT anticipates the acquisition to be accretive to shareholders on an adjusted basis within the first year after close.