Quad-C has agreed to acquire QED Technologies International, a provider of optical finishing and measurement equipment, from publicly traded Entegris.
QED’s products and systems are utilized by advanced optics manufacturers that supply precision optics to the semiconductor, military, space, imaging, and research and development sectors. Additionally, QED’s contract manufacturing group, QED Optics, is known as a leader within the optical sector for combining large, challenging, or highly precise optical components.
The company’s products and systems include computer-controlled, state-of-the-art MRF (magneto-rheological finishing) polishing systems; and automated and non-destructive SSI (sub-aperture stitching interferometry) metrology equipment that can be used both as in-process metrology tools and as end-of-the-line, final quality control measurement systems.
Magneto-rheological finishing (MRF) is a machining process that uses magnetic fields and magnetically responsive abrasives to achieve extremely high levels of surface finish quality. MRF works by generating a powerful magnetic field that causes magnetically charged particles to move and interact with the surface of a workpiece to produce a smooth, even finish with high accuracy.
Sub-aperture stitching interferometry (SSI) is an imaging technique that can be used to capture 3D images of both small and large-scale objects with high resolution and accuracy. The stitching process reconstructs a full-aperture high-resolution map of a surface from a collection of smaller (sub-aperture) maps, each covering only a portion of the whole surface. SSI is a straightforward technique for flat optics but becomes more complicated for non-flat and complex surfaces, especially for aspheric (non-round) shapes.
“QED is a leader in precision optics finishing equipment, products, and services, providing the most precise technologies to manufacturers in semiconductor, aerospace & defense markets,” said Tom Hickey, a partner a Quad-C. “Quad-C and our industrial tech practice are thrilled to partner with QED and its strong management team in order to execute on our shared growth strategy.”
Rochester, New York-headquartered QED was founded in 1996 and was acquired in July 2006 by Cabot Microelectronics (now CMC Materials). In July 2022, CMC Materials was acquired by Entegris and QED became part of Entegris’ specialty chemicals and engineered materials division.
“QED has built a reputation for excellence in precision optics over nearly three decades,” said Matt Trotta, a principal at Quad-C. “We are excited to partner with the company as it begins its next chapter as a standalone entity once again.”
Quad-C invests in companies with enterprise values of $50 million to $400 million. Sectors of interest include business and consumer services, food and beverage, consumer products, healthcare, industrials, transportation and logistics, and specialty distribution. Quad-C was founded in 1989 and is headquartered in Charlottesville, Virginia.
Entegris (NASDAQ: ENTG) develops, manufactures, and supplies specialty chemicals and engineered materials, micro-contamination control products, and advanced materials handling systems that are used in the semiconductor and other high-tech industries. The company has annual revenues of more than $2.9 billion and is headquartered in Billerica, Massachusetts.
Quad-C’s buy of QED is expected to close by the end of the first quarter.
© 2023 Private Equity Professional | January 26, 2023
