Brooks to sell its Semiconductor Solutions Group business

Brooks says in a press release that it anticipates closing of the transaction in the first half of calendar year 2022 upon satisfaction of customary closing conditions and regulatory approvals. The Semiconductor Solutions Group (automation business) reported approximately USD 613 million in revenue in the last twelve months ended June 30, 2021. The purchase price is subject to adjustments for working capital and other items. Brooks' automation business is a provider of high precision, high throughput vacuum robots and systems as well as contamination control solutions to the global semiconductor capital equipment industry. Recently, the business expanded into collaborative robotics for multi-market applications. "We are proud of the highly innovative automation business that we have built, which has seen great success in the semiconductor industry. We look forward to its continued growth under THL's ownership," says Steve Schwartz, President and CEO of Brooks in the press release. "We are equally proud of the strength and growth of our life sciences business and excited by the significant proceeds from this transaction which will afford strategic investments in a market where we see tremendous opportunity." "Over the past 40 years, Brooks has built an impressive portfolio of automated solutions to address some of the most difficult engineering challenges facing the semiconductor capital equipment industry," adds Michael Kaczmarek, Managing Director, THL. "We are excited to support the business in its next leg of growth in semiconductor and beyond." As a result of the pending sale to THL, Brooks will no longer pursue a separation into two independent and publicly traded companies as the company stated back in May 2021. Following the completion of the sale, which is expected in first half of 2022, the semiconductor automation business will transition to the ownership of THL along with the Brooks Automation name and brand. The remaining life sciences business will then operate as a standalone publicly traded life sciences company, under a new name which the company says will be announced in the near future.