MKS Completes Newport Acquisition
MKS Instruments, Inc. recently announced the completion of its acquisition of Newport Corp.
MKS Instruments, Inc. recently announced the completion of its acquisition of Newport Corp. for $23 per share, or approximately $905 million, and repayment of approximately $93 million of Newport’s U.S. indebtedness. MKS Instruments funded the transaction with a combination of cash on hand and proceeds from a seven-year $780 million secured term loan.
“We’re excited by the combination of MKS Instruments and Newport Corp., as it creates a premier supplier of critical components and subsystems for a diverse set of end markets, from semiconductor to life sciences, each with a common need for highly precise technology enabling solutions,” said Gerald Colella, MKS Instruments’ CEO and president. “With the strong support of the Newport management team, we have already begun to lay out our integration plans to achieve profitable and sustainable growth targets and are confident in our ability to achieve our goals.”