Akrion Systems LLC, headquartered in Allentown, Pennsylvania is a supplier of wet-processing systems providing surface preparation for the microelectronic, photovoltaic and display industries. The agreement, first announced last September, had remained subject to stringent Chinese and US government approvals prior to closing.
Acuity Advisors Limited, a UK based M&A technology advisory firm, served as financial advisor.
The acquisition allows NAURA to increase its already large equipment portfolio to address the rapidly growing local Chinese market and enable penetration of the global market. The capital and technology assistance of NAURA also will significantly improve Akrion Systems’ strategic capabilities and provide broader and better support to new and existing customers. As a result of the closing of the transaction, NAURA Akrion Inc. will operate as a wholly owned subsidiary of NAURA in the United States.
Matthew Byatt, Partner at Acuity Advisors, said:
“Acuity has a deep understanding of both semiconductor technology and the characteristics of the industry itself, having decades of collective experience across the team. This knowledge, combined with strong relationships with buyers and our active presence on the ground in China, has resulted in a tremendous result for Akrion. Naura is an excellent partner for Akrion and the management team. This partnership will enable the company to grow to the next level.”