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Entegris Acquires Particle Sizing Systems, LLC to Expand the Value of its Product Portfolio for Advanced-Node Manufacturers

Technology enables customers to perform particle size analysis in real time

News Release
Download PDF (132.8 kB)

BILLERICA, Mass., January 22, 2018 – Entegris, Inc. (NASDAQ: ENTG), a leader in specialty chemicals and advanced materials solutions for the microelectronics industry, announced today that it acquired Particle Sizing Systems, LLC., a company focused on particle sizing instrumentation for liquid applications in both semiconductor and life science industries. 

This acquisition reflects Entegris’ value creation strategy by leveraging our global technology platform and customer relationships. The total purchase price of the acquisition was approximately $37 million in cash, subject to customary working capital adjustments. Entegris expects this transaction to be accretive to 2018 earnings.  Digital transformation continues to create a high demand for sophisticated cloud computing infrastructures that require the most advanced logic and memory chips available. However, advanced-node manufacturers already challenged by a continuously shrinking process window and high fab costs, struggle to maintain yield and eliminate losses associated with CMP performance.  

In advanced-node CMP applications, scratch defects are often caused by the agglomeration of slurry abrasive particles, that have the potential to become a key factor in process yield performance. With the technology from PSS, Entegris is enabling customers with the ability to perform particle size analysis online and in real time, directly  in the fluid stream process.  Automating the monitoring process can lead to the application of more effective solutions, like proper filter selection and system maintenance. This ability to intervene with these solutions prevents costly yield excursions.

“To stay competitive, our advanced-node customers need tools that allow them to shorten their process times while maintaining accuracy and consistency in order to meet the high quality standards of the manufactures they partner with," says Todd Edlund, Chief Operating Officer, Entegris. "PSS technology is unique in that it measures every particle in the slurry making it more accurate than commonly used methods that employ averaging techniques. As a result, this technology eliminates the need for manual sampling and intervention, which is less efficient and runs a higher risk of slurry excursions.” 

For more information, please see the official press release. 

Entegris is a leader in specialty chemicals and advanced materials solutions for the microelectronics industry and other high-tech industries.  Entegris is ISO 9001 certified and has manufacturing, customer service and/or research facilities in the United States, China, France, Germany, Israel, Japan, Malaysia, Singapore, South Korea and Taiwan. Additional information can be found at www.entegris.com

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements related to the impact of the acquisition, including the Company's expectation that the acquisition will be accretive to earnings; market trends in the semiconductor industry; and other matters. These statements involve risks and uncertainties, and actual results may differ. These risks and uncertainties include, but are not limited to, our ability to effectively integrate the acquired company; market conditions relating to the acquired company's products; and other risk factors and additional information described in our filings with the Securities and Exchange Commission, including under the heading “Risks Factors” in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed on February 17, 2017, and in our other periodic filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

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Particle Sizing Systems, LLC Acquisition FAQ

Q.  What was announced today?

A. Today, we announced that Entegris has acquired Particle Sizing Systems, LLC. Particle Sizing Systems, headquartered in Port Richey, FL., is a major force in technology creation and manufacturing of particle sizing instrumentation for liquid applications, and has approximately 40 employees.

Q. Why is Entegris acquiring PSS?

A. Entegris purchased PSS to expand the value of its product portfolio for advanced-node manufacturers (3D NAND, leading edge logic) with technologies that are focused on maintaining the condition of chemical-mechanical planarization (CMP) slurries.  Through this acquisition, Entegris will quickly be able to help PSS reach manufacturing excellence in order to meet the high-quality standards and demands of customers.

Q. Why is this a good strategic fit for Entegris?

A. This acquisition not only increases the value of our product portfolio, it also provides potential pull-through opportunities for our filtration products.

Q. How will you integrate the company with Entegris?

A. Employees and products from the acquisition will be primarily integrated into the Advanced Materials Handling Division.

Q.  What is the size of PSS?

A. PSS has approximately 40 employees and a top line for 2018 of less than $15 million.

Q.  Will PSS keep their name?

A.  We will be phasing out the PSS corporate brand over the course of this year. For now, PSS will be referred to as an Entegris company.

Q. Will any employees at PSS or Entegris lose their jobs?

A.  No, all Particle Sizing Systems employees have received an employment offer letter from Entegris and no existing Entegris employees will be affected by this acquisition.

Q.  What are PSS key product lines?

A. Accusizer: AccuSizer systems measure particle size and concentration using a sensor, counter, and fluidics configuration. 

Accusizer Mini: The AccuSizer Mini is used around the world for online particle size analysis of CMP slurries

Nicomp: The Nicomp dynamic light scattering (DLS) system measures particles size and generates results as Gaussian or multi-modal distributions using the unique Nicomp algorithm that remains the most advanced for accurately separating close bimodals and native populations from aggregate tails.

Q.  Do you expect to acquire more companies in 2018? How does this fit in with Entegris’ overall M&A strategy?

A. We’ll continue to look at potential acquisitions that help us further our mission. In reviewing potential acquisitions, we focus on adding high-quality businesses and product lines that leverage our business model platforms.  This acquisition exceeds our minimum threshold for both accretion and return on invested capital.

Q. What are the financial terms of the deal?

A. The total purchase price of the acquisition was approximately $37 million in cash, subject to customary capital adjustments.           

Q. What impact will it have on Entegris’ earnings?

A. The acquisition will be accretive to 2018 earnings.