Bayside Capital Buys Akrion

Bayside Capital, an affiliate of H.I.G. Capital, has acquired Akrion Inc., an Allentown, Penn.–based provider of surface preparation systems to the semiconductor and solar industries. No financial terms were disclosed.


Akrion Systems, an affiliate of Bayside Capital, today announced that it has purchased substantially all the assets of Akrion, Inc., a leading provider of surface preparation systems to the semiconductor and solar industries. The transaction includes a major investment from Bayside and positions the company for growth in both the semiconductor and solar cleaning equipment markets. Customers will benefit from the transaction through new product introductions, enhanced service levels and expanded R&D.

“The transaction provides a long-term financial partner for Akrion Systems,” said James S. Molinaro, President and CEO. “We have the resources to continue to provide superior support to existing customers while investing in research and development to grow both our batch-immersion and single-wafer product lines.”

Bayside Capital is an affiliate of H.I.G. Capital, a leading global private equity firm with $7.5 billion of equity capital under management. Members of the Bayside team will serve on Akrion Systems’ board, while management will oversee day-to-day operations.

“Akrion Systems has a winning combination of proprietary technology, a global service team and deep customer relationships,” said Adam Schimel of Bayside Capital. “The company will benefit from the growing importance of surface preparation as semiconductor device geometries shrink. The company is also helping the solar industry produce more efficient solar cells at a lower cost. With Bayside’s investment and ongoing strategic and operational support, Akrion Systems is well positioned to become the premier provider of surface preparation systems to the solar and semiconductor industry.”

About Akrion Systems

Akrion Systems is a provider of surface preparation systems, including single-wafer and batch-immersion cleaning tools for the semiconductor and solar industries. The company’s products are used in the production of a diverse range of devices, including integrated circuits for DRAM, NAND Flash, Logic and MEMS as well as new and reclaimed semiconductor wafers, photomasks, and solar cells. Headquartered in Allentown, Pa., Akrion Systems’ Allentown production facility is ISO 9001:2000 certified. For further information, please visit Akrion’s Web site:

About Bayside Capital

Bayside Capital is a private investment firm which actively invests in middle market companies that can benefit from operational enhancements, improved access to capital, or balance sheet realignments. With the ability to provide a broad range of financing solutions, Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position. Bayside Capital is an affiliate of H.I.G. Capital, a leading private equity investment firm specializing in acquisitions and recapitalizations of middle market businesses. Based in Miami, Florida, and with offices in Atlanta, Boston, San Francisco, London, Paris and Hamburg, H.I.G. is one of the most active private equity investors in small and medium-sized companies. The firm has available in excess of $7.5 billion of committed capital to support its investment activities. For additional information, visit