CHELMSFORD, Mass., July 1, 2019 /PRNewswire/ -- Brooks Automation,
Inc. (Nasdaq:BRKS), a leader in automation solutions for the
semiconductor manufacturing and life sciences industries, announced
today that it has completed the previously announced sale of the
company's Semiconductor Cryogenics business to Edwards Vacuum LLC (
a member of the Atlas Copco Group) for $675
million in cash, subject to adjustments for working capital
and other items.
Proceeds from the sale, net of taxes, fees and adjustments, are
estimated to be $550 million.
The Company has applied $495 million
cash from the proceeds to reduce debt, resulting in approximately
$50 million gross debt and zero net
debt on the balance sheet.
Deal Background
In August 2018, Brooks entered
into a definitive agreement to sell its Semiconductor Cryogenics
business to Atlas Copco. The Semiconductor Cryogenics
business provides a wide range of high-performance cryogenic
products for the semiconductor, display, and general vacuum
industries. Brooks originally acquired the cryogenics
business in its 2005 merger with Helix Technology and integrated
the business into Brooks' Chelmsford,
Massachusetts headquarters operations. The sale
agreement provides for the transfer of the CTI pump business, the
Polycold chiller business, the related services business and the
company's 50% share in Ulvac Cryogenics, Inc., a joint venture
based in Japan. Brooks is not transferring products or IP
developed as part of its Life Sciences segment or vacuum automation
portfolio in its Semiconductor Solutions segment.
About Brooks Automation
Brooks is a leading provider of life science and semiconductor
manufacturing automation solutions worldwide. The Company
applies its automation and cryogenics expertise to provide a full
suite of reliable cold-chain sample management solutions across
life sciences in areas such as drug development, clinical research
and advanced cell therapies. Brooks recently added global
capability for gene sequencing and gene synthesis services through
its strategic acquisition of GENEWIZ, expanding its sample-based
services offerings. With over 40 years as a partner to the
semiconductor manufacturing industry, Brooks is a provider of
industry-leading precision robotics, integrated automation systems
and services. Brooks is headquartered in Chelmsford, MA, with operations in
North America, Europe and Asia. For more information, visit
www.brooks.com.
INVESTOR CONTACTS:
Mark Namaroff
Director, Investor Relations
Brooks Automation
978.262.2635
mark.namaroff@brooks.com
Sherry Dinsmore
Brooks Automation
978.262.2400
sherry.dinsmore@brooks.com
John Mills
Senior Managing Director
ICR, LLC
646.277.1254
John.mills@icrinc.com
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SOURCE Brooks Automation