The Management Board of Pfeiffer Vacuum Technology AG (Nashua, N.H.; www.pfeiffer-vacuum.com) today announced the acquisition of U.S.-based Nor-Cal Products Inc. (Yreka, Calif.; www.n-c.com), effective June 22, 2017. With around 300 employees in the USA and Vietnam, Nor-Cal manufactures premium-quality vacuum components, chambers and valves for international customers in the fields of semiconductors, coating and displays, as well as for leading universities and research facilities. Nor-Cal expects full-year sales of around $60 million at an EBIT margin around the level of the Pfeiffer Vacuum group. The agreed purchase price amounts to $68 million on a cash and debt-free basis. The transaction was mainly financed via a bank loan.
Founded in 1962 in Yreka, California, USA, Nor-Cal operates plants at its Yreka headquarters and in Ho-Chi-Minh-City, Vietnam, which will further improve the group’s global production footprint. In recent years, the company has benefited greatly from its persistent focus on customers in the semiconductor industry and this segment’s comparatively high growth. Nor-Cal has identified the medical engineering sector in North America as another very interesting future growth market.
Pfeiffer Vacuum will take advantage of Nor-Cal’s high profile and its advanced online and offline sales channels to win new customers and grow its market share in North America. In order to successfully combine both businesses, Nor-Cal and its management team will immediately be integrated into Pfeiffer Vacuum’s existing organizational structure.
Pfeiffer Vacuum is one of the world’s leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio comprises backing pumps, measurement and analysis devices, components as well as vacuum chambers and systems.