SPP Process Technology Systems (SPTS), a UK-based manufacturer of etch, deposition, and thermal processing equipment for the semiconductor industry, has received a private equity investment from Bridgepoint.
Bridgepoint is backing a management acquisition of SPTS from Sumitomo Precision Products. Under the terms of the transaction, which is still subject to standard competition clearances, SPP will retain a minority stake in the new organization co-operating with it through a joint venture for the Japanese market.
Led by President and CEO William Johnson, SPTS designs, develops and manufactures capital equipment that is used in the production of devices on semiconductor substrates. The company serves a number of end-markets including micro electro-mechanical systems (MEMS), power management, advanced packaging, high speed RF components, and light emitting diodes (LEDs) on compound semiconductor substrates.
SPTS has over 500 employees across 19 countries with main operations in Newport, Wales, UK, and San Jose, California.