Chartwell Advises Oxbow Industries, LLC in SkyWater Technology Foundry’s Acquisition of 200mm Semiconductor Wafer Fabrication Facility

MINNEAPOLIS, Minnesota – March 9, 2017 – Chartwell Financial Advisory, Inc. is pleased to announce that Oxbow Industries, LLC (“Oxbow”), through its newly created portfolio company, SkyWater Technology Foundry (“SkyWater Technology”), has acquired the Minnesota 200mm wafer fabrication business from Cypress Semiconductor Corp. (Nasdaq: CY) (“Cypress”). Chartwell acted as the exclusive financial advisor to Oxbow throughout the transaction and secured the necessary financing in order to complete the transaction. The transaction was completed on March 1, 2017.

With Oxbow’s backing, SkyWater Technology purchased the capital stock of Cypress' subsidiary. The new ownership structure will allow the fabrication facility to operate as a standalone business that will manufacture wafers for Cypress under a multi-year supply agreement, in addition to serving other semiconductor manufacturers. The transaction will ensure that the employees of the Minnesota-based fabrication facility will have the opportunity to help the new business flourish and that it will remain an invaluable asset to the local community as well as continue the tradition of quality U.S.-based manufacturing.

CLIENT VALUE ADD

Oxbow chose Chartwell as our financial advisor because of their reputation and expertise in the marketplace.  Chartwell’s Corporate Finance team ran an efficient process to secure financing for a very non-typical acquisition. Throughout each step of the process, the Chartwell team provided valuable, in-depth guidance with regards to the structuring and financing of the transaction. Chartwell acted as a true partner on the deal with senior leadership throughout the process.  We truly appreciate everything Chartwell has done during this transaction. 

Loren Unterseher
Managing Director, Oxbow Industries, LLC
Member of the Board of Directors, SkyWater Technology Foundry

 

ABOUT OXBOW INDUSTRIES, LLC

Headquartered in Minneapolis, Oxbow Industries, LLC is a diversified holding company dedicated to building businesses in partnership with their management teams. Their transactions provide liquidity for owners, raise capital for corporate growth, and create significant equity opportunities for key management. For more information, visit www.oxbowindustries.com.

ABOUT CHARTWELL FINANCIAL ADVISORY

With five offices across the country, Chartwell is a national leader in financial advisory for privately held middle-market companies.  Since 1995, the firm has provided creative, responsible, and unbiased advice and solutions to help companies, stakeholders, and fiduciaries achieve their goals and objectives.  Chartwell’s services include providing counsel related to ownership advisory, executive compensation, risk mitigation, buy- and sell-side M&A, capital markets, transaction opinions, and valuations for a variety of purposes including corporate planning, ESOPs, estate and gift, and financial reporting.  For more information, visit www.chartwellfa.com.  For additional information on this transaction, please contact Greg Fresh at 612-230-3125 or greg.fresh@chartwellfa.com