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BOC Edwards gets snagged in latest private-equity deal |
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Mar 12, 2007 at 12:24 PM |
After months of speculation, the Linde Group announced today that it has sold BOC Edwards' equipment biz to CCMP Capitol Advisers and CCMP Capital Asia, two joined-at-the-hip private equity firms.
The privateers will pay about $889 million for the company, with another $87 million ponied up down the line if CCMP is "successful in developing the business and subsequently exiting its investment." Add the two sums, and we're talking a nearly billion-dollar deal.
This purchase marks yet another in an increasingly long string of private-equity types buying semiconductor-manufacturing food-chain companies, including Freescale and Philips Semi. And speaking of food, a gander at the list of companies invested in by the CCMP sibs reveals Quiznos and Korean-based Haitai Confectionary.
Does this mean that the BOC folks will now have access to free sandwiches and sweet treats, or that the Q subs will now be cooked in a vacuum process?
Synergy can be a strange and wonderful thing.
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