SANTA CLARA, Calif.--Kinetics Group Inc., a supplier of process infrastructure systems for chip-production tools, today announced the completion of a $550 million buyout of its operations by management and the investment arm of Deutsche Bank AG.
The buyout from US Filter, a subsidiary of France's Vivendi, will enable Kinetics to focus more resources on process infrastructure serving the semiconductor, pharmaceutical and biotechnology industries, according to managers.
Kinetics said the involves $275 million in common equity, other equity-linked instruments totaling $120 million, and a $150 million term loan as part of a total $260 million senior credit facility.
In a series of acquisitions and alliances, Kinetics said it has become a source for complete turnkey process solutions. The company reported that its revenues have increased from $278 million in 1996 to $660 million in 1999.
With its total revenues expected to exceed $1 billion in the current fiscal year, the company said it plans to increase its operations for outsource manufacturing and other services to meet the needs in the semiconductor industry. For semiconductor equipment suppliers, Kinetics provides outsourcing design and manufacturing services for integrated fluid delivery sub-systems that are used to control the flow of gases and chemicals in chip-making processes.