Precision Surfacing Solutions acquires Meyer Burger's wafering business
Precision Surfacing Solutions (PSS) (formerly Lapmaster Wolters Ltd), a global supplier of equipment and services for surface enhancement technology, intends to acquire from Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) the wafering business consisting of photovoltaic and specialised materials (e.g. semiconductor and sapphire glass industries) wafering equipment and service business. As part of the transaction, significant parts of Meyer Burger's current production facilities in Thun as well as around 100 employees involved in the wafering technology portfolio in Thun and the relevant service locations worldwide will also be transferred to PSS. Completion of the contract is subject to standard closing conditions. The closing of the transaction is expected to be completed towards the end of the first quarter of 2019. The agreed purchase price is CHF 50 million plus earn-out component. Both Meyer Burger and PSS view the transaction as an important strategic milestone, which will further strengthen two global technology leaders.
PSS is a recognized industry leader in the development of technology to produce micron accuracy surface finishes. PSS is headquartered in Mt. Prospect, IL/USA, employing over 900 people across 13 manufacturing facilities on three continents.
Walder Wyss has advised PSS on this transaction. The Walder Wyss team was led by Robert von Rosen (Partner, Corporate/M&A) and included Alexander Gutmans (Partner, Corporate/M&A), Thomas P. Müller (Partner, Real Estate), Markus R. Frick (Partner, IP/IT), Fabian Looser (Managing Associate, Employment), Vanessa C. Haubensak (Associate, Corporate), Christoph Zogg (Associate, Litigation) und Flora Stanischewski (Associate, Commercial).