Investment Summary

Needham Capital Partners and Gemini Investors Exits Coventor

On August 31, 2017, Lam Research invested in software company Coventor from Needham Capital Partners and Gemini Investors

Investment Highlights
  • This is Lam Research’s 2nd transaction in the Software sector.
  • This is Lam Research’s 4th transaction in the United States.
  • This is Lam Research’s 1st transaction in North Carolina.

Investment Summary

Date 2017-08-31
Target Coventor
Sector Software
Investor(s) Lam Research
Sellers(s) Needham Capital Partners
Gemini Investors
Deal Type Add-on Acquisition

Target

Coventor

Cary, North Carolina, United States
Coventor, Inc. is a provider of simulation and modeling solutions for semiconductor process technology, micro-electromechanical systems (MEMS), and the Internet of Things (IoT). Coventor was founded in 1996 and is based in Cary, North Carolina.

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Investor(S) 1

Investor

Lam Research

Fremont, California, United States

Category Company
Founded 1980
Sector Semiconductors
Employees18,300
Revenue 14.9B USD (2024)
DESCRIPTION
Lam Research's corporate headquarters in Fremont, California.
Lam Research's corporate headquarters in Fremont, California.

Lam Research is a provider of wafer fabrication equipment and services to the semiconductor industry. Lam Research designs, manufactures, markets, refurbishes, and service semiconductor processing systems that are used in the fabrication of integrated circuits. The Company's products are designed to help customers build devices that are used in a variety of electronic products, including cell phones, computers, storage devices, and networking equipment. Lam Research's customer base includes semiconductor memory, foundry, and integrated device manufacturers. Lam Research was formed in 1980 and is based in Fremont, California.


DEAL STATS #
Overall 6 of 8
Sector: Software M&A 2 of 2
Type: Add-on Acquisition M&A Deals 4 of 6
State: North Carolina M&A 1 of 1
Country: United States M&A 4 of 5
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-14 Novellus Systems

San Jose, California, United States

Novellus Systems, Inc. is a manufacturer of chemical vapor deposition (CVD), physical vapor deposition (PVD) and copper electrofill systems. Novellus products provide solutions to both the productivity and quality problems facing the worldwide semiconductor manufacturing industry today.

Buy $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Semsysco

Salzburg, Germany

Semsysco is a global wet-processing semiconductor equipment provider that enables single and batch wafer and large flat panel processing. The company sales and service organization expands around the globe, while manufacturing and engineering expertise is kept in Austria. All components of Semsysco tools are selected according to ISO and SEMI standards. Semsysco is based in Salzburg, Germany.

Buy -

Seller(S) 2

SELLER

Needham Capital Partners

New York, New York, United States

Category Private Equity Firm
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Needham Capital Partners is the private equity affiliate of mid-market investment bank Needham & Company. Needham Capital targets investments in clean technology, communications, consumer, financial services, healthcare, semiconductor, enterprise software/storage, networking, and industrial service companies. The Firm prefers to act as the lead investor and has a target investment size of $2 to $10 million. Investment proceeds are typically used to finance growth, or fund management buyouts/recapitalizations. Prospective companies are generally located in the US. Needham Capital Partners is based in New York City, with additional offices in Boston, Menlo Park, and San Francisco.


DEAL STATS #
Overall 55 of 55
Sector: Software M&A 17 of 17
Type: Add-on Acquisition M&A Deals 31 of 31
State: North Carolina M&A 2 of 2
Country: United States M&A 54 of 54
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 SpaceClaim

Concord, Massachusetts, United States

SpaceClaim Corporation is a provider of fast and intuitive 3-D modeling software for engineers. Targets the mechanical design market and provides breakthrough technology that enhances engineers' productivity by empowering them to contribute to, consume and share mechanical designs in a 3D digital form.

Sell $85M
SELLER

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 35 of 53
Sector: Software M&A 5 of 6
Type: Add-on Acquisition M&A Deals 14 of 25
State: North Carolina M&A 1 of 1
Country: United States M&A 35 of 53
Year: 2017 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-05 Chairmans Foods

Nashville, Tennessee, United States

Chairmans Foods is a manufacturer and custom solutions provider of fresh and frozen food products. The company's primary products include, refrigerated system kits, refrigerated branded pre-packaged chicken salad under the comfort cuisine label, kettle-cooked customized side dishes (macaroni and cheese, country corn, green beans, pepper gravy, cinnamon apples, etc.) delivered frozen to foodservice and other customers, and refrigerated sauces. Chairmans Foods was founded in 1999 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-19 TruFit Athletic Clubs

McAllen, Texas, United States

TruFit Athletic Clubs is an operator of an independent high-value, low-cost fitness club chain. TruFit Athletic Clubs was founded in 2006 and is based in McAllen, Texas.

Buy -