Entegris, Billerica, Mass., a distributor of specialty chemicals and advanced materials solutions, announces that it has entered into a definitive agreement to acquire the SAES Pure Gas business from SAES Getters S.p.A. in Milan, Italy. The SAES Pure Gas business, a provider of high-capacity gas purification systems used in semiconductor manufacturing and adjacent markets, is based in San Luis Obispo, California, and will report into the Microcontamination Control division of Entegris. Under the agreement, Entegris will purchase the shares and assets which comprise the SAES Pure Gas business for approximately $355 million, subject to customary purchase price adjustments.
Materials purity plays an increasingly critical role in the performance and reliability of advanced semiconductors, as the sensitivity to contamination approaches the parts per quadrillion level. Advanced memory devices require significantly higher gas consumption per processed wafer to support shrinking geometries and multi-layer device architectures. As a result of this heightened sensitivity to molecular contamination and increased gas consumption, semiconductor manufacturers are depending on bulk gas suppliers to deliver process gases that meet new purity requirements.
“With this acquisition, our customers will benefit from a complete portfolio of gas purification solutions for both bulk and specialty gases,” said Bertrand Loy, president and Chief Executive Officer of Entegris.
According to a recent press release issued by SAES Group, the SAES Pure Gas business recorded revenues of €81 million, or $91.5 million, and an adjusted EBITDA of €29.3 million, or $33.1 million, for its fiscal year ended December 31, 2017 and revenues of €25.5 million, or $31 million, and an adjusted EBITDA of €7.8 million, or $9.6 million, for the first quarter of 2018. Entegris intends to fund the acquisition from its available cash and expects that the transaction will be immediately accretive.
