Ichor Announces Acquisition of IMG
Summary
FREMONT, Calif.--(BUSINESS WIRE)--Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment, today announced that our wholly-owned subsidiary, Incline Merger Sub, LLC, has entered into a merger agreement with IMG Companies, LLC, a Livermore, CA-based precision machining, welding, brazing, and surface treatment business serving the semiconductor, medical, and aerospace/defense industries. Our gas delivery subsystems deliver, monitor and control precise quantities of the specialized gases used in semiconductor manufacturing processes such as etch and deposition. Our chemical delivery subsystems precisely blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes such as chemical-mechanical planarization, electroplating, and cleaning. Words such as “guidance,” “expects,” “intends,” “may,” “will,” “projects,” “plans,” “predicts,” “believes,” “could,” “estimates,” “targets,” “anticipates,” “look forward,” and similar expressions are used to identify these forward-looking statements. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including: (1) the possibility that the acquisition will not be completed, including for among other reasons, failure to obtain required financing or to satisfy any of the other conditions to the possible acquisition under the merger agreement governing the acquisition, (2) adverse effects on the market price of Ichor’s ordinary shares and on Ichor’s operating results because of a failure to complete the acquisition, (3) the integration of IMG with Ichor, including the ability to retain customers, supplier and key employees, (4) negative effects relating to the announcement of the acquisition or any further announcements relating to the acquisition or the consummation of the acquisition on the market price of Ichor’s ordinary shares, (5) significant transaction costs and/or unknown or inestimable liabilities, potential litigation associated with the acquisition, (6) dependence on expenditures by manufacturers and cyclical downturns in the semiconductor capital equipment industry, (7) reliance on a very small number of original equipment manufacturers for a significant portion of sales, (8) negotiating leverage held by our customers, (9) competitiveness and rapid evolution of the industries in which we participate, (10) risks associated with weakness in the global economy and geopolitical instability, (11) keeping pace with developments in the industries we serve and with technological innovation generally, (12) designing, developing and introducing new products that are accepted by original equipment manufacturers in order to retain our existing customers and obtain new customers, (13) managing our manufacturing and procurement process effectively, (14) defects in our products that could damage our reputation, decrease market acceptance and result in potentially costly litigation, (15) dependence on a limited number of suppliers, and (16) the impact of the COVID‑19 pandemic, any related or unrelated public health threat or fear of such event on economic activity, us and our customers, suppliers, employees, and other business relations, including, but not limited to, demand for our products, workforce availability, and costs to manufacture our products.