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Press release content from Business Wire. The AP news staff was not involved in its creation.

FabExchange Completes Private Equity Acquisition of ON Semiconductor Rochester, NY Site

February 17, 2021 GMT

ROCHESTER, N.Y. & FREMONT, Calif.--(BUSINESS WIRE)--Feb 17, 2021--

FabExchange, a private equity and divestiture partner, announced today it has completed the acquisition of ON Semiconductor’s Rochester, NY., site on December 15, 2020. Marketplace shifts led to the decision to discontinue the production of the CCD image sensor, ultimately resulting in the closure of the Rochester, NY., site.

A holistic approach to an acquisition

There is a true human element to this transaction. FabExchange partnered with ON Semiconductor, local, and international partners to facilitate this divestiture effectively, efficiently, and faultlessly, with a focus on maximizing future employment opportunities locally. Industry analysts believe that this acquisition is indeed a win-win for both companies, as well as the City of Rochester and its people. A core objective for FabExchange is to serve as a bridge for international companies wishing to invest in manufacturing in the US.

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The property was originally constructed by Eastman Kodak Company in 1959 and expanded in 1980. The building core is made up of dedicated lab space, cleanroom and surrounding office space. With space totaling 263,000 square feet, inclusive of 7 floors and a basement, the building is designed for wafer fabrication, assembly, testing, and office space.

Sal Shafi, CEO of FabExchange, describes his company as a strategic private equity firm specializing in the acquisition of semiconductor and EMS companies. Vis-a-vis valuing and purchasing advanced manufacturing companies, FabExchange has experience solving many of the industry’s most complex challenges involving commercial real estate, infrastructure, intellectual property, and capital asset transactions. This experience is buffered by FabExchange’s global network of investment partners - an ecosystem of partnerships that, with their industry expertise, affords FabExchange the ability to take on financial risk, even in the current economic climate.

“When acquiring facilities such as this, renovation and creative reconfiguration is almost always required. However, this facility is ready and primed for use by wafer fabs for MEMS, CMOS, CCD, and DRAM, and compound semiconductors (i.e., GaN or SiC fab, biochemical) production,” said Ali Shafi, Managing Partner of FabExchange. “We have a few clients showing interest in this facility generating great momentum, setting the stage for an exciting future for this property.”

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About FabExchange:

We solve some of the industry’s most complex challenges involving commercial real estate, infrastructure, intellectual property, and capital asset transactions, as well as valuing and purchasing advanced technology manufacturing companies.

If you have any questions regarding FabExchange and its divestiture consulting services, or their plans for the Rochester, NY site, please do not hesitate to contact:

Ali Shafi / Managing Partner: +1.925.451.1555

View source version on businesswire.com:https://www.businesswire.com/news/home/20210217005391/en/

Ali Shafi / Managing Partner: +1.925.451.1555

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK

INDUSTRY KEYWORD: OTHER MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE TECHNOLOGY CONSTRUCTION & PROPERTY SEMICONDUCTOR FINANCE ENGINEERING REIT PROFESSIONAL SERVICES MANUFACTURING

SOURCE: FabExchange

Copyright Business Wire 2021.

PUB: 02/17/2021 04:40 AM/DISC: 02/17/2021 04:40 AM

http://www.businesswire.com/news/home/20210217005391/en