Pfeiffer Vacuum Technology AG has completed a major acquisition of Nor-Cal Products Inc. in a move that will create the leading supplier of vacuum components in the US.
The $68m deal seeks to establish further growth opportunities in Asia, extend sales reach across all market segments and offer a broader product portfolio and new technology solutions.
Pfeiffer CEO Manfred Bender called the takeover an “important transaction” and added, “With Nor-Cal, we will significantly reinforce our position in the increasingly attractive market for vacuum components.”
“Now, we are not only better able to serve growth markets in the US and Asia, we have also reinforced all market segments. The transaction fully supports our declared strategy of tapping the vacuum market’s great potential by way of acquisitions.”
Nor-Cal manufactures premium vacuum components, chambers and valves for global semiconductor, coating and display fields as well as for universities and research facilities.
It was founded in 1962 in Yreka, California but it also owns a facility in Ho-Chi-Minh-City, Vietnam which will enhance Pfeiffer’s global production footprint.
Nor-Cal is said to have identified North America’s medical engineering sector as a “very interesting future growth market.” In response, Pfeiffer said it will “take advantage” of Nor-Cal’s high profile in the States and its advanced online and offline sales channels to win new customers and grow its market share there.
Nor-Cal and its management team will be immediately integrated into Pfeiffer’s existing organisational structure.
Earlier this year, Pfeiffer acquired 100% of the shares of flow test instruments provider Advanced Test Concepts, Inc. (ATC), in a deal that was said to ‘complete’ Pfeiffer’s portfolio.