Stonebridge buys chip equipment maker Foice for $147M
What's the deal? Private equity firm Stonebridge CapitalDealroom has a profile for this one. Try Dealroom → has acquired an 83% stake in South Korean semiconductor equipment maker FoiceDealroom has a profile for this one. Try Dealroom → for US$165.2M. The firm bought the management rights held by founder and former chief executive officer Bong Kyung-hwan and others, becoming Foice's largest shareholder. Payment has been completed.
Who is Foice? Founded in 2007 and based in Ansan, Gyeonggi Province, Foice manufactures precursor transfer equipment used in semiconductor deposition processes. It is one of the few domestic companies to count both Samsung ElectronicsDealroom has a profile for this one. Try Dealroom → and SK HynixDealroom has a profile for this one. Try Dealroom → as clients.
Why now? StonebridgeDealroom has a profile for this one. Try Dealroom →, whose portfolio has centred on consumer goods, distribution, and IT services, is expanding into semiconductor materials, parts, and equipment amid an AI-driven memory boom. Demand for liquid and solid precursors is rising as chip processes grow more advanced, and Foice has finished developing equipment for next-generation precursors.
What's the endgame? Stonebridge's value-up plan hinges on winning overseas clients. With firms like Micron announcing large expansions, Foice's track record supplying Samsung and SK Hynix could help it enter the global supply chain and lift sales.
Track record: Stonebridge has profited from chip bets before. It invested US$39.6M in electronic components maker SolumDealroom has a profile for this one. Try Dealroom → and recovered US$96.7M — 2.44 times its stake.
The signal: Private equity interest in Korean chip materials, parts, and equipment is surging. JKL PartnersDealroom has a profile for this one. Try Dealroom → bought process consumables firm Lion for US$150.9M last November, and Keystone Partners moved to acquire equipment maker ESP in April — a wave of consolidation tracking the AI memory cycle.
Read more: chosun.com
Image credit: Kitmondo.com
