Edgewater Capital Partners Completes Sale of Pure Wafer Amid Stronger Semiconductor Industry
Deal News | Nov 14, 2024 | Edgewater Capital Partners
Edgewater Capital Partners, a Cleveland-based private equity firm, has completed the sale of Pure Wafer, the largest U.S.-based provider of advanced silicon solutions to the semiconductor industry. This transaction is seen as a significant milestone for Pure Wafer amidst a resurgence in North America's role in the global semiconductor supply chain. The firm has been praised for its growth and industry leadership, backed by Edgewater's focus on performance materials. Bob Girton, Edgewater's Managing Partner, acknowledged the dedication of the Pure Wafer team and the support from co-investment partners such as Centerfield Capital Partners and Bowside Capital, as well as guidance from independent board members Kathy Ta and Dan Rubin. Under Edgewater's ownership, Pure Wafer expanded its capabilities, aligning operations with the increasing demand from OEMs and integrated device manufacturers in the U.S. Legal counsel for the deal was provided by Taft Stettinius & Hollister LLP, while TD Cowen served as the exclusive financial advisor.
Sectors
- Semiconductor
- Private Equity
- Legal Services
- Financial Advisory
Geography
- United States – The article focuses on North America, particularly the United States, given the resurgence of the semiconductor industry and Pure Wafer being the largest U.S.-based provider.
Industry
- Semiconductor – The article discusses the sale of Pure Wafer, a key provider in the semiconductor industry, emphasizing the industry's growth in North America.
- Private Equity – Edgewater Capital Partners, a private equity firm, is the central figure in the transaction described in the article.
- Legal Services – The involvement of Taft Stettinius & Hollister LLP as legal counsel during the transaction highlights the role of legal services in M&A.
- Financial Advisory – TD Cowen acted as the exclusive financial advisor for the transaction of Pure Wafer, indicating the role of financial advisory in such transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Edgewater Capital Partners | Private Equity Firm | Company | Cleveland-based firm focusing on growth and excellence in performance materials. |
| Pure Wafer | Target Company | Company | Largest U.S.-based provider of silicon solutions for the semiconductor industry. |
| Bob Girton | Managing Partner | Person | Expressed gratitude for the Pure Wafer team and partners' support. |
| Centerfield Capital Partners | Co-Investment Partner | Company | Supported Edgewater in the Pure Wafer transaction. |
| Bowside Capital | Co-Investment Partner | Company | Participated as a co-investment partner in Edgewater’s investment. |
| Kathy Ta | Independent Board Member | Person | Provided guidance contributing to Pure Wafer’s success. |
| Dan Rubin | Independent Board Member | Person | Contributed to the strategic direction of Pure Wafer. |
| Taft Stettinius & Hollister LLP | Legal Advisor | Company | Provided legal counsel for the transaction. |
| TD Cowen | Financial Advisor | Company | Acted as exclusive financial advisor to Pure Wafer. |