10 November 2011

Summit invests in wet processing tool maker Solid State Equipment

Growth equity firm Summit Partners has completed an investment in Solid State Equipment LLC of Horsham, PA, USA, a manufacturer of single-wafer wet processing equipment.

Solid State Equipment says that it will continue to focus on high-growth segments of semiconductor manufacturing, including advanced packaging processes, mobile communications and mobile computing products, and LEDs.

Founded in 1965, Solid State Equipment designs and makes capital equipment for semiconductor manufacturers. The firm provides products and services for the integrated circuit industry that can be configured to a specific customer’s needs, while leveraging standard platforms and proprietary technology to drive efficiencies. Solid State Equipment provides sales and technical support through its global network of direct and independent representatives, including its offices in Horsham, PA and San Jose, CA, USA; Regensburg, Germany; Cramlington, UK; Taiwan; Shanghai, China; Woodlands, Singapore; Gyeonggi, Korea; and Laguna, Philippines.

“Solid State Equipment has established an exceptional track record through its proprietary technology and exceptional engineering capabilities,” comments John Carroll, a managing director at Summit Partners who will join the Solid State Equipment’s board of directors. Peter Rottier, a vice president with Summit Partners, is also joining the board. “Solid State Equipment has maintained impressive growth and consistent profitability for nearly two decades,” he notes.

“Summit Partners has provided us with the growth capital necessary,” says Solid State Equipment’s president & CTO Herman Itzkowitz. “Summit Partners’ industry experience will be an invaluable resource as we enter our next stage of growth,” adds chairman Rich Richardson.

Tags: Wet processing

Visit: www.ssecusa.com

Visit: www.summitpartners.com