Company Overview

Ichor Systems Holdings, LLC is a leading global designer and manufacturer of process tools, gas delivery modules and chemical delivery modules purchased by original equipment manufacturers for use in the global light emitting diode “LED”, semiconductor, alternative energy, data storage and flat panel display markets.

Partnership Overview

Acquisition Dynamic / AIP Differentiation

• Seller valued AIP’s reputation for speed and certainty
• AIP had previously transacted with seller
• Complex carve out and private foreclosure expertise

Investment Rationale

• Global leader at trough of semiconductor market
• Leading supplier of LED capital equipment
• Engineering intensive
• Attractive purchase price
• High return on asset characteristics
• Strong management team
• Significant acquisition synergies in sales, procurement and labor

Value Creation Accomplishments

• Diversified core business into new markets including LED lighting and data storage
• Executed an add-on acquisition which significantly diversified the customer base and product offerings
• Reduced direct labor hours involved in assembling the add-on acquisition’s highest volume product by approximately 50%
• Achieved substantial procurement savings
• Transferred production from New York operations to facilities in Singapore and Malaysia
• Deepened penetration with existing customers, expanded into synergistic adjacent markets, and secured leading market share in a diversified set of end markets

Exit

Sold to a financial buyer in December 2011 
 

Company Highlights