CHELMSFORD, Mass., Sept. 20, 2021 /PRNewswire/ -- Brooks
Automation, Inc. (Nasdaq: BRKS) today announced that it has entered
into a definitive agreement to sell its Semiconductor Solutions
Group business (or "automation business") to Thomas H. Lee
Partners, L.P. ("THL") for $3.0
billion in cash. The automation business reported
approximately $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 anticipates closing
of the transaction in the first half of calendar year 2022 upon
satisfaction of customary closing conditions and regulatory
approvals.
Brooks' automation business is a leading 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" stated Steve Schwartz,
President and CEO of Brooks. "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," stated Michael
Kaczmarek, Managing Director, THL. "We are excited to
support the business in its next leg of growth in semiconductor and
beyond."
Jim Carlisle, Managing Director
and Head of THL's Automation Fund, said: "THL remains focused on
investing behind automation leaders, as underscored by the
establishment of our Automation Fund in 2020, and working with
management to accelerate growth. We welcome the Brooks
semiconductor and multi-market collaborative automation team into
our family of dynamic and innovative automation solution providers,
and we look forward to partnering with the talented team from
Brooks Automation to unlock new growth opportunities."
As a result of the pending sale to THL, Brooks will no longer
pursue a separation into two independent and publicly traded
companies as announced in May 2021.
Following completion of the sale, 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
to be announced in the near future. Management will host an
investor day to discuss the life sciences business on November 16, 2021.
In connection with the transaction, Evercore acted as the
exclusive financial advisor and Mintz, Levin, Cohn, Ferris, Glovsky
and Popeo, P.C. acted as legal counsel to Brooks Automation.
Management will host a conference call this morning at
8:30 a.m. Eastern Time, Monday, September 20th, 2021 to
discuss the transaction and to host a question and answer session.
To participate in the conference call, please dial 800-582-1443 for
domestic callers and +1-212-231-2926 for international callers.
The call will be webcast live over the Internet and, together
with presentation materials referenced on the call, will be hosted
at the Investor Relations section of Brooks' website at
https://brooks.investorroom.com, and will be archived online on
this website for convenient on-demand replay.
About Brooks Automation
Brooks (Nasdaq: BRKS) operates
two global, market-leading businesses, Life Sciences and
Semiconductor Solutions, each with its own distinct area of focus
and expertise. The Life Sciences business provides a full suite of
reliable cold-chain sample management solutions and genomic
services across areas such as drug development, clinical research
and advanced cell therapies for the industry's top pharmaceutical,
biotech, academic and healthcare institutions globally. With over
40 years as a partner to the semiconductor manufacturing industry,
Brooks' Semiconductor Solutions business provides industry-leading
precision vacuum robotics, integrated automation systems and
contamination control solutions to the world's leading
semiconductor chip makers and equipment manufacturers as well as
collaborative robotics and automation capabilities for multi-market
applications. Brooks is headquartered in Chelmsford, MA, with operations in
North America, Europe and Asia. For more information, please visit
www.brooks.com.
About Thomas H. Lee Partners
Thomas H. Lee Partners,
L.P. ("THL") is a premier private equity firm investing in middle
market growth companies exclusively in three sectors: Financial
Services, Healthcare and Technology & Business Solutions. THL
couples deep sector expertise with dedicated internal operating
resources to transform and build great companies of lasting value
in partnership with management. The Firm's domain expertise and
resources help to build great companies with an aim to accelerate
growth, improve operations and drive long-term sustainable value.
Since 1974, THL has raised more than $30
billion of equity capital, invested in over 160 companies
and completed more than 500 add-on acquisitions representing an
aggregate enterprise value at acquisition of over $210 billion. THL invests in automation companies
through its flagship private equity fund and a dedicated automation
fund. For more information, please visit www.thl.com.
"Safe Harbor Statement" under Section 21E of the Securities
Exchange Act of 1934
Some statements in this release are
forward-looking statements made under Section 21E of the Securities
Exchange Act of 1934. These statements are neither promises nor
guarantees but involve risks and uncertainties, both known and
unknown, that could cause Brooks' financial and business results to
differ materially from our expectations. They are based on the
facts known to management at the time they are made. These
forward-looking statements include but are not limited to
statements about the certainty and/or timing of completion of the
pending sale of our semiconductor automation business to THL, our
ability to invest the expected cash proceeds from the sale, and the
anticipated growth prospects of our life sciences business. Factors
that could cause results to differ from our expectations include
unexpected delays in obtaining regulatory approvals or satisfaction
of other customary closing conditions; a lack of available
strategic acquisitions to support life sciences growth; continued
impact of the COVID-19 global pandemic on the markets we serve,
including our supply chain, and on the global economy generally;
uncertainties in global political and economic conditions, and
other factors and other risks, including those that we have
described in our filings with the Securities and Exchange
Commission, including but not limited to our Annual Report on Form
10-K, current reports on Form 8-K and our quarterly reports on Form
10-Q. As a result, we can provide no assurance that our future
results will not be materially different from those projected.
Brooks expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statement to reflect
any change in our expectations or any change in events, conditions
or circumstances on which any such statement is based. Brooks
undertakes no obligation to update the information contained in
this press release.
INVESTOR CONTACTS:
Sara Silverman
Director, Investor Relations
Brooks Automation
978.262.2635
sara.silverman@brooks.com
Sherry Dinsmore
Brooks Automation
978.262.2400
sherry.dinsmore@brooks.com
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