GCA becomes part of Houlihan Lokey

Transaction

Transaction Details

Pending
November 5, 2021

Sector

Semiconductors and Electronics, Technology

Deal Type

Mergers and Acquisitions, Minority Investment

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GCA Advises Enpro on Its Acquisition of NxEdge

GCA is pleased to announce that our client, EnPro Industries, Inc. (“Enpro” or the “Company”) (NYSE:NPO), a leading industrial technology conglomerate, has acquired NxEdge, Inc., an advanced manufacturing, cleaning, coating, and refurbishment business focused on the semiconductor value chain and a portfolio company of Trive Capital.

Under the terms of the agreement, Enpro will acquire NxEdge for $850 million in cash. Upon closing, NxEdge will become part of Enpro’s Advanced Surface Technologies (AST) segment. The transaction marks a significant next step in Enpro’s portfolio reshaping strategy and transformation toward unique industrial technology products and services in high-margin, high-growth markets with aftermarket exposure and recurring revenue streams. Together, the combined business will offer differentiated, integrated solutions with expanded customer relationships and a diversified geographic reach. This transaction also positions Enpro to take advantage of the current movement of the semiconductor supply chain back to the United States and the massive U.S. foundry investments by TSMC, Samsung, and Intel.

Based in Boise, Idaho, NxEdge serves customers across the semiconductor supply chain, including top-tier global integrated device manufacturers (IDM) and original equipment manufacturers (OEM) from six facilities located in Idaho and California. With vertically integrated capabilities across the semiconductor value chain, including a robust aftermarket business, NxEdge is a leading supplier offering a set of integrated capabilities with unique processes resulting in difficult to obtain customer qualifications.

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