MKS acquires Granville-Phillips
The acquisition strengthens MKS' position in the vacuum gauge market. The firm's primary served markets are manufacturers of capital equipment for semiconductor devices, and for other thin film applications including data storage media, solar cells and LEDs
MKS Instruments, Inc. a provider of technologies that enable advanced processes and aims to improve productivity, has completed its acquisition of the assets of Granville-Phillips, formerly a division of Brooks Automation, Inc. for $87 million in cash.
Granville-Phillips is a provider of vacuum measurement and control instruments to the semiconductor, thin film and general industrial markets, with sales of approximately $30 million in 2013.
This acquisition further strengthens MKS' position in the vacuum gauge market. MKS is the market leader in direct pressure measurement and Granville-Phillips is a well-regarded leader in indirect vacuum gauges, with a premium brand and an excellent reputation for quality, reliability and performance.
The Granville-Phillips business will be operated as the Granville-Phillips division of MKS and will be integrated into MKS' Pressure Measurement business. The acquisition is not expected to have a material impact on second quarter revenue or non-GAAP earnings. Management expects the acquisition to be accretive to non-GAAP earnings in fiscal 2014, and also expects future cash flow benefits due to the availability of tax amortisation on most of the purchase price.
Jerry Colella, CEO and President, says, "We are pleased to be able to offer our customers and existing Granville-Phillips customers an extended portfolio of quality products supported by our global sales and service infrastructure. We are also excited to welcome Granville-Phillips employees to MKS and look forward to their contribution to business synergies as we integrate Granville-Phillips into MKS."
