HMT Corporate Finance, led by partner Bruce Morrison, advised Swindon-based Plus Semi on the acquisition of Plymouth based X-FAB UK from its German parent company. Following completion of the acquisition, the two semiconductor manufacturing sites have been integrated into Plymouth and the business will operate as Plessey Semiconductors Limited.
Plessey Semiconductors is a well established semiconductor manufacturing business that develops, manufactures and markets niche analog and mixed-signal semiconductor wafers and products on 6” and 8” silicon and silicon-on-insulator substrates for use in integrated circuits. Its customers span the defence, space, aerospace, medical and automotive sectors.
Michael LeGoff, Plessey Semiconductors’ Managing Director, commented:
“The integration of the Swindon business with the Plymouth facility and its technology has been the culmination of an enormous effort. It is an exciting time for us and the electronics industry and the feedback from the market regarding the new Plessey Semiconductors has been very positive.”
“HMT played a significant role by providing expertise and advice in executing this transaction. Their industry knowledge is excellent and the timely support they provided throughout the transaction was invaluable. In various different capacities we have worked with HMT before and thoroughly enjoyed working with Bruce Morrison and his team again. We will continue to use HMT in an advisory capacity as we grow and develop our business.”
Partner Bruce Morrison commented:
“We are delighted to have advised Plus Semi on this transaction, and look forward to working with them again as the business develops.”