April 11, 2017 | Announcements
GCA Advises Sumitomo Heavy Industries on Two Key Industrial Technology Acquisitions
We are pleased to announce that GCA advised our client, Sumitomo Heavy Industries, a leading industrial machinery manufacturer, on the acquisition of robotics and 3D printed motor technology company Persimmon Technologies Corporation and the acquisition of Amec Foster Wheeler’s CFB boiler business.
Acquisition of Persimmon Technologies Corporation
GCA acted as exclusive financial advisor to Sumitomo Heavy Industries, Ltd (“SHI”) on the acquisition of Persimmon Technologies Corporation (“Persimmon”), a Massachusetts-based robotics company that develops vacuum robotics and hybrid-field 3D printed motor technology for the semiconductor, data storage, LED, OLED, solar, and flat panel display equipment markets.
With this acquisition, SHI will introduce vacuum robotics to its line of products to accommodate increased demand for in-vacuum chamber production due to advancements in miniaturization of semiconductors and electronic components, as well as the use of 3D design technology.
SHI aims to utilize Persimmon’s core technologies to drive its growth in the semiconductor equipment industry, as well as employ Persimmon’s R&D expertise in next-generation direct-drive motors to help expand its business in such areas as gear reducers and plastics machinery.
This transaction closed on March 31, 2017.
Acquisition of Amec Foster Wheeler’s CFB Boiler Business
GCA also acted as exclusive advisor to SHI on the acquisition of FW Energie BV, a subsidiary of Amec Foster Wheeler focused on the circulating fluidized bed (CFB) boiler business. Amec Foster Wheeler has been developing CFB, a core technology for renewable energy generation, for more than 30 years.
This acquisition allows SHI to supply its customers with some of the most advanced CFB boiler technologies in the world and places the company in a highly competitive position at a time when the CFB boiler market is projected to grow ahead of historical trend in the medium and long term due to increasing demand for power, particularly in emerging countries.
The transaction is expected to close at the end of May 2017.
These transactions add to GCA’s extensive track record in the industrials and industrial technology sector, with the firm advising on 10 transactions in the sector thus far in 2017. In addition, these two transactions highlight GCA’s longstanding client relationship with SHI, which has resulted in five successful advisory engagements to date.
About Sumitomo Heavy Industries, Ltd.
Sumitomo Heavy Industries, Ltd. (TSE: 6302) is a leading Japanese manufacturer of power transmission equipment, injection molding machines, environmental facilities and plants, industrial machinery, and construction machinery with turnover of JPY 700,838M.
About Persimmon Technologies
Persimmon Technologies is a leading provider of vacuum robotics and hybrid-field 3D printed motor technology for the semiconductor, solar, LED, and flat panel display equipment markets. Headquartered outside of Boston, Massachusetts, Persimmon’s management team has over 60 years of experience in the development, manufacture and distribution of advanced robotics and automation systems worldwide.
About Amec Foster Wheeler
Amec Foster Wheeler (NYSE, LON: AMFW) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors. Employing around 36,000 people in more than 55 countries and with 2016 revenues of £5.4 billion, the company operates across the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, power and process, pharma, environment and infrastructure markets.
GCA is a premier global investment bank serving a broad client base through a range of advisory services including mergers and acquisitions, debt and equity capital markets, private funds, restructuring, and asset management. GCA is a global advisor providing insightful advice and is focused on building long-term relationships based on trust. GCA delivers deep expertise in many key industries and has a particular focus in Technology, Software, Media, Digital Media, Communications, Industrials and Industrial Technology, Healthcare, Financial Institutions, FinTech and Business Services. GCA has teams of highly experienced bankers in San Francisco, New York, Tokyo, Frankfurt, London, Manchester, Milan, Mumbai, Munich, New Delhi, Osaka, Shanghai, Singapore, Tel Aviv and Zurich. For more information, visit gcaglobal.com.