|By Business Wire||
|August 9, 2013 09:58 AM EDT||
Edwards Group Limited (NASDAQ: EVAC), a leading manufacturer of sophisticated vacuum products and abatement systems and a global provider of related value-added services, Edwards has entered into a definitive agreement to acquire the business and certain assets of Gamma Vacuum (“Gamma”), a market leader in the design, manufacture and service of ultra high vacuum (UHV) pumps. Founded in 2003, Gamma has a very strong reputation for the manufacture and distribution of Ion and Titanium Sublimation pumps.
The two founders of Gamma will remain with the business and manufacturing will continue at the existing facility in Shakopee, Minnesota. The transaction is expected to be completed in September 2013 and is subject to standard closing conditions.
Gamma’s product range comprises UHV pumps used in applications principally in the R&D sector such as for high energy physics, together with other R&D, Scientific and Industrial applications. In 2012 Gamma had revenues in excess of US$9 million with a customer base of over 350, principally spread across both the US and Europe, and in Japan. They include a broad range of government laboratories, universities and specialist manufacturers.
Jim Gentilcore, Edwards Chief Executive Officer, commented “We are delighted to welcome Dan Wetterlin, Tony Wynohrad and the rest of the Gamma team to Edwards. They have an enviable reputation and strong technical know-how in a vacuum segment that we have been interested in for some time.
We see significant opportunities to help develop the Gamma brand and their global presence. Gamma’s customers will benefit from the global scale and customer service capabilities of Edwards, together with the technical knowhow and support from the largest R&D capability in the industry.
I am very excited by this acquisition which is an excellent fit with our own capabilities and business strategy. It will expand Edwards’ product range into UHV, giving us the capability to supply a total vacuum package from UHV through to atmospheric pumping. This opens up the full range of applications in Scientific and R&D sectors to us, thus providing additional potential revenue synergies for Edwards’ own product range when sold in combination with the Gamma product.”
Edwards is a leading developer and manufacturer of sophisticated vacuum products, abatement systems and related value-added services. These are integral to manufacturing processes for semiconductors, flat panel displays, LEDs and solar cells; are used within an increasingly diverse range of industrial processes including power, glass and other coating applications, steel and other metallurgy, pharmaceutical and chemical; and for both scientific instruments and a wide range of R&D applications.
Edwards has over 3,200 full-time employees and 500 temporary workers operating in approximately 30 countries worldwide engaged in the design, manufacture and support of high technology vacuum and exhaust management equipment.
Edwards’ American Depositary Shares trade on The NASDAQ Global Select Market under the symbol EVAC. Further information about Edwards can be found at www.edwardsvacuum.com.
For further information about Gamma please visit www.gammavacuum.com.