One Equity Partners (OEP) has completed its acquisition of ePak Resources, a designer and manufacturer of packaging for semiconductors, integrated circuits and other electronic components. The management team of ePak will continue to own a significant stake in the company in partnership with OEP.
ePak products include boxes, canisters, containers, trays and other products that are used for the storage and transport of electronic products used by semiconductor companies, system OEMs, and integrated circuit assembly and test operations.
The company has a 600,000 square foot manufacturing facility and design center in Shenzhen, China which is centrally located to the semiconductor industry’s back-end activities and supports a global network of just-in-time distribution centers. ePak also maintains 40 warehouses and nine sales offices worldwide and has just over 1,100 employees. The company was founded in 1999 and is headquartered in Austin, TX (www.epak.com).
“ePak’s high-quality products have enabled it to become a primary supplier to more than 300 businesses that rely on its advanced packing materials for their complete handling needs during the front end semiconductor fabrication process, and safe transport of integrated circuit products at the back end,” said Andrew Oliver, Managing Director, OEP. “We are excited to have identified several acquisition opportunities with CEO Steve Dezso and his management team to further strengthen the company’s product portfolio, geographic footprint and customer base.”
According to OEP, ePak’s target customer sector continues to grow with annual silicon wafer shipments increasing for the fourth year in a row through 2017 as semiconductor demand from original equipment manufacturers, automotive and consumer electronic businesses remained strong. Worldwide wafer shipments increased by 10 percent in 2017 over 2016, while worldwide sales of silicon grew by 21 percent to $8.7 billion over $7.2 billion in 2016.
“OEP’s long track record of partnering with management teams to improve operating efficiencies and drive growth through strategic transactions is well aligned with our vision for growing ePak into an unparalleled market leader in the innovative packing solutions market,” said Steve Dezso, President and CEO of ePak. “Today is an exciting milestone in ePak’s continued evolution, and we look forward to working closer with OEP to further consolidate the fragmented packaging market and gaining additional share as the company enters its next stage of growth.”
One Equity Partners is a middle-market private equity firm that invests in industrial, healthcare, and technology companies that are based in North America and Europe. Since 2001, the firm has invested in more than 150 transactions worldwide. One Equity, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York and Chicago, and an advisory office in Frankfurt, Germany (www.oneequity.com).
© 2018 Private Equity Professional | April 12, 2018