secwatch.observer — SEC 8-K summary
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Issuer:     Ultra Clean Holdings, Inc. (UCTT)
CIK:        0001275014
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0000950170-23-056750
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ultra Clean Holdings closes acquisition of HIS Innovations Group for $50M upfront plus up to $70M earn-out
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- Paid $50M upfront cash; up to $50M earn-out based on 2023 adjusted EBITDA, plus up to $20M for 2024-2025 performance.
- HIS 2023 estimated revenue $56.7M, non-GAAP gross margin 38.4%, adjusted EBITDA $10M (17.6% margin).
- Acquisition expands UCT's sub-fab addressable market by $1.5B; expected accretive on an adjusted basis.
- HIS to remain in Hillsboro, OR, reporting into UCT's Products division.
- Needham & Co. served as financial advisor; Davis Polk as legal advisor to UCT.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1275014/000095017023056750/0000950170-23-056750-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1275014/000095017023056750/uctt-20231025.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-056750

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer