Ultra Clean Holdings, Inc. (UCT), a leading developer and provider of critical subsystems, ultra-high purity and analytical services primarily for the semiconductor industry, has concluded a final agreement to acquire Ham-Let (Israel-Canada) Ltd., a public company listed on the Tel Aviv Stock Exchange for $348 million, including $287 million in equity and $61 million in net debt.
Ham-Let Group is one of the world’s leading companies in the development, production and distribution of industrial flow control systems – connectors, fittings and valves for high pressure and high temperature transmission systems.
Under the terms of the agreement, the total of the transaction is $348 million. UCT has signed an agreement with Barclays on compulsory debt financing and repayment of Ham-Let debt.
The transaction increases the production of semiconductor components by $2 billion and provides access to customers in the semiconductor market. Preliminary estimate of savings would amount to $20 million over three years.
The transaction is expected to be closed in the second half of first quarter or at the beginning of the second quarter of 2021.
Alliance of European Lawyers provided сomprehensive advisory services in the negotiation process between Ultra Clean Holdings, Inc. and Ham-Let (Israel-Canada) Ltd during the conclusion of this agreement.