Francisco Partners, a leading technology-focused private equity firm, today announced the acquisition of Ichor Systems. Based in Tualatin, Ore., Ichor Systems is a premier global designer and manufacturer of process tools, gas delivery modules and chemical delivery modules sold to capital equipment manufacturers.
"We see a real opportunity for Ichor Systems to build upon its operational strengths, global workforce and deep industry relationships to drive growth," said Andrew Kowal, a partner at Francisco Partners and head of the firm's semiconductor and hardware investment activities. "Francisco Partners brings significant experience from more than a decade of investments in the semiconductor and related industries, and we will work closely with Ichor Systems' management team to capitalize on these opportunities."
Dipanjan Deb, managing partner of Francisco Partners, added, "The investment in Ichor Systems represents the latest in a series of semiconductor investments we have made over the years and reflects our continued commitment to investing in the semiconductor and capital equipment industries. We plan to build upon Ichor Systems' successes and will provide the resources needed to expand the company's market leadership."
Since its inception in 1999, Ichor Systems has established strong relationships with the world's leading capital equipment manufacturers, collaborating on system design and serving as an outsourced manufacturer for complex subsystems. Ichor Systems serves a variety of end markets, including semiconductors, LEDs (light emitting diode), data storage and alternative energy capital equipment.
"In Francisco Partners, we have found the truly unique partner who brings historical investment experience in our specific market, a rich network, and strong expertise in the semiconductor, LED, and technology markets broadly," said David Shimmon, chief executive officer of Ichor Systems. "We look forward to leveraging Francisco Partners' insights and capabilities as we support and grow with our customers."
The acquisition was completed on December 30, 2011. Financial terms of the transaction were not disclosed.
ABOUT ICHOR SYSTEMS
Ichor Systems was founded in 1999 and is headquartered in Tualatin, OR where they maintain global operations.