Akrion

In 1999, Akrion emerged from the assets of SubMicron Systems Corporation, setting its sights on a critical, yet often overlooked, corner of the semiconductor industry: wet cleaning systems. Based in Allentown, Pennsylvania, the company focused on designing and manufacturing equipment for surface preparation of silicon wafers, a crucial step in producing everything from integrated circuits to solar panels. The company's playbook involved both organic growth and strategic acquisitions. In 2004, Akrion acquired assets from single-wafer manufacturer Verteq, and followed that in 2006 by purchasing assets from SCP Global Technologies. These moves broadened its product offerings across both batch and single-wafer cleaning equipment. A significant chapter in Akrion's story began in 2008 when it was acquired by Bayside Capital, an affiliate of private-equity firm H.I.G. Capital. This provided a new financial partnership, but the ownership story didn't end there. A decade later, in a move that highlighted global shifts in the semiconductor supply chain, Akrion was acquired by NAURA Microelectronics Equipment, a state-owned Chinese firm, for $15 million. This 2018 transaction, approved by U.S. regulators, created a wholly-owned subsidiary, NAURA Akrion Inc. The acquisition gave NAURA a strategic foothold in the U.S. and provided Akrion with capital and access to the rapidly expanding Chinese market, ensuring the continued evolution of this specialized technology player.