M&A Deal Summary

Ultra Clean Holdings Acquires Quantum Global Technologies

On July 24, 2018, Ultra Clean Holdings acquired business services company Quantum Global Technologies from Spring Capital Partners, Argosy Private Equity and NewSpring Capital for 400M USD

Acquisition Highlights
  • This is Ultra Clean Holdings’ 1st transaction in the Business Services sector.
  • This is Ultra Clean Holdings’ largest (disclosed) transaction.
  • This is Ultra Clean Holdings’ 2nd transaction in the United States.
  • This is Ultra Clean Holdings’ 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2018-07-24
Target Quantum Global Technologies
Sector Business Services
Buyer(s) Ultra Clean Holdings
Sellers(s) Spring Capital Partners
Argosy Private Equity
NewSpring Capital
Deal Type Add-on Acquisition
Deal Value 400M USD
Advisor(s) Cowen Group, Inc. (Financial)
Fox Rothschild LLP (Legal)

Target

Quantum Global Technologies

Dublin, Pennsylvania, United States
website
Quantum Global Technologies LLC is a provider of ultra-high purity outsourced parts cleaning (OPC), process tool part recoating, surface treatment and analytical services to the semiconductor and related industries. Quantum Global Technologies was founded in 2000 and is based in Dublin, Pennsylvania.

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Buyer(S) 1

Buyer

Ultra Clean Holdings

Hayward, California, United States

website


Category Company
Founded 1991
Sector Machinery
Employees4,355
Revenue 2.4B USD (2022)
DESCRIPTION

Ultra Clean Holdings is a developer and supplier of critical subsystems for the semiconductor capital equipment, medical device, energy, research, and flat panel industries. Ultra Clean Holdings was founded in 1991 and is based in Hayward, California.


DEAL STATS #
Overall 2 of 5
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Pennsylvania) 1 of 1
Country (United States) 2 of 4
Year (2018) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-09 Advanced Integration Technologies

Chandler, Arizona, United States

Advanced Integration Technologies, LLC (AIT), also a supplier of critical subsystems to the semiconductor capital equipment, medical, energy, industrial and aerospace industries.

Buy $99M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-15 Dynamic Manufacturing Solutions

Austin, Texas, United States

Dynamic Manufacturing Solutions LLC is a full-service manufacturing and engineering organization specializing in the assembly and testing of mechanical and electromechanical assemblies. Dynamic Manufacturing Solutions LLC offers a complete range of manufactured solutions from build to print outsourcing to turnkey design and product realization.

Buy -

Seller(S) 3

SELLER

Spring Capital Partners

Lutherville, Maryland, United States

Investor Investor

website


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Spring Capital Partners is a mezzanine finance provider for small to medium-sized businesses. Spring invests $2 to $20 million, primarily in the form of subordinated debt with equity features in each transaction. The Firm does not have an industry focus. Spring Capital looks for businesses located in the Mid-Atlantic US with revenues between $10 and $150 million. Spring Capital Partners was formed in 1999 and has offices in Baltimore, Maryland and Radnor, Pennsylvania.


DEAL STATS #
Overall 17 of 25
Sector (Business Services) 3 of 4
Type (Add-on Acquisition) 12 of 18
State (Pennsylvania) 4 of 5
Country (United States) 17 of 25
Year (2018) 1 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 HMS

New York, New York, United States

HMS designs, manufactures and distributes women's Knit and Women garments Worldwide. HMS was founded in 1986 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Global Critical Logistics

Lititz, Pennsylvania, United States

Global Critical Logistics is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Through its offices in the US, UK, Australia, Belgium, Brazil, Chile, China, Colombia, Germany, Japan, Mexico, Netherlands, and Peru, augmented by a network of foreign agents specializing in live events, GCL serves thousands of customers per year with specialized freight solutions on all seven continents. Global Critical Logistics was founded in 1978 and is based in Lititz, Pennsylvania.

Sell -
SELLER

Argosy Private Equity

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 575M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argosy Private Equity is the private equity arm of Argosy Capital, an asset management firm. Argosy Private Equity provides both debt and equity capital to lower middle-market companies located throughout the US. Argosy focuses on growth companies with experienced management teams and revenues between $15 and $100 million and EBITDA of $3 to $9 million. Argosy looks to invest $5 - $20 million per transaction. Specific areas of interest include manufacturing, business services, franchising and Value added distributions. The Firm will consider a variety of transaction types, including MBO’s, recapitalizations, growth equity and acquisitions. Argosy was formed in 1990 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 33 of 46
Sector (Business Services) 5 of 5
Type (Add-on Acquisition) 21 of 33
State (Pennsylvania) 10 of 12
Country (United States) 33 of 46
Year (2018) 6 of 8
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Simkar

Philadelphia, Pennsylvania, United States

Simkar Corp. is a manufacturer of linear and compact fluorescent, exit and emergency, HID and vandal resistant lighting fixtures for commercial, industrial and residential applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-07 Capewell Aerial Systems

South Windsor, Connecticut, United States

Capewell Aerial Systems is a design and manufactures tactical, parachute and aerial delivery products. Capewell Aerial Systems was founded in 1881 and is based in South Windsor, Connecticut.

Buy -
SELLER

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


DEAL STATS #
Overall 48 of 80
Sector (Business Services) 4 of 9
Type (Add-on Acquisition) 30 of 45
State (Pennsylvania) 20 of 24
Country (United States) 47 of 79
Year (2018) 5 of 8
Size (of disclosed) 4 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-19 Radius Global Market Research

New York, New York, United States

Radius is a custom research firm specializing in data and market research that enable brands to make more informed product development, advertising, and other strategic business decisions. Radius Global Market Research was founded in 1960 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Pillar Technology Group

Columbus, Ohio, United States

Pillar Technology Group LLC is a technology consulting firm that offers its clients the opportunity to solve business problems in a no-constraints, creative, collaborative environment. Pillar Technology Group LLC was founded in 1996 and is based in Columbus, Ohio.

Sell -