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Ultra Clean Holdings expands business with first major acquisition |
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Jul 03, 2006 at 04:53 PM |
 Ultra Clean Holdings, Inc has made its first major acquisition since going public in 2004 with the purchase of Sieger Engineering, Inc a semiconductor equipment component and outsourcing sub-systems manufacturer.
"We are very pleased to add Sieger's complementary capabilities to UCTT in a synergistic transaction," stated Clarence Granger, UCTT's Chief Executive Officer. "We expect the transaction to be accretive to earnings for the balance of 2006 and for all of 2007. Like UCTT, Sieger has experienced growth at a faster pace than the overall industry because of its flexible business model, which is well suited to meet our customers' needs for outsourced manufacturing."
UCTT will pay approximately $50 million to complete the transaction, which is expected to close today. The consideration will consist of $16 million in cash, approximately 2.47 million shares of UCTT common stock, and the assumption of approximately $15 million of debt.
Combined revenues for 2005 would have been $234 million, a 59% increase over
UCTT's calendar year 2005 revenue of $147 million.
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