Stuttgart, 4 October July 2022. Exyte has completed the acquisition of Airgard Inc., a US based specialist in exhaust gas cleaning technology. Founded in 1988 and based in Milpitas, California, Airgard is a market leader in the development and manufacturing of ‘wet’ scrubbers. Airgard’s wet scrubbers are used globally by many key players in the semiconductor industry.
With various U.S. and global patents along with numerous pending applications, the company has consistently grown their market share by developing proprietary solutions in the highly technical Point-of-Use semiconductor process gas scrubbing application. Airgard forecasts sales in the mid double-digit million-euro range in the current year. Revenue is expected to increase driven by the growth of the semiconductor industry.
In addition, Airgard’s products will also gain market share through its proprietary technology that substantially reduces regulated greenhouse gases allowing its users to significantly reduce environmentally harmful emissions. “The acquisition of Airgard will strengthen Exyte’s position to support our customers with technical solutions for their exhaust management, also in light of the increasing standards that come up with Environmental, Social and Governance (ESG) regulations and requirements," says Dr. Wolfgang Büchele, CEO of Exyte.
Strengthening of Exyte’s Technology and Services business
With the acquisition, Exyte builds on its strategy of vertical integration by strengthening its business in the area of mission-critical technology and services. The Technology & Services (T&S) Business Area was formed in 2020 with entities that provide cleanroom technology and installation services. With the acquisition of US based Critical Process Systems Group (CPS) in 2021 the equipment portfolio was enlarged by leading chemical and gas delivery systems and exhaust management, among others, for industries like semiconductors and life sciences. “Airgard will add Point-of-Use scrubbing products to our technology offering, which will strengthen the technology know-how and accelerate the growth of Exyte’s Business Area T&S. Our customers will benefit from a broader range of Exyte’s high-tech facilities offerings”, adds Büchele.
Airgard CEO Mark Johnsgard, co-founder and majority shareholder: “I am delighted to have found a great strategic owner for Airgard. Exyte and Airgard are both committed to enabling our customers to progress with innovative solutions while recognizing the need to eliminate adverse impacts to the environment. We share the ambition to constantly improve and support our clients in their technical development and Exyte's excellent market position will provide a great platform to drive Airgard's continued growth.”
Exyte is currently successfully pursuing its "Pathway to Ten", the goal of reaching ten billion euros in sales by 2027. To this end, the company has defined the "Next Level" future agenda. Sales and profits are to improve in all business segments and in all regions, also through targeted acquisitions. Exyte expects to reach annual sales of around seven billion euros in 2022. In accordance with an increase in sales, a respective rise in adjusted EBITDA and adjusted EBIT is expected – envisaging a forecasted adjusted EBITDA of approximately 450 million euros, respectively an adjusted EBIT above 400 million euros.
Airgard scrubbers are used by Global Semiconductor Manufacturers, contributing to improved ecological sustainability, and lowering CO2 equivalent emissions worldwide. Our point-of-use scrubbers apply state-of-the-art Wet-Burn-Wet technology and traditional wet technology to provide one of the highest reliability guarantees in the industry.