MKS pays $87M for industrial company
MKS Instruments, Inc. of Andover recently announced it has completed its acquisition of the assets of Granville-Phillips, formerly a division of Brooks Automation, Inc., for $87 million in cash.
Granville-Phillips is a leading global provider of vacuum measurement and control instruments to the semiconductor, thin film and general industrial markets, with sales of approximately $30 million in 2013.
This acquisition further strengthens MKS’ position in the vacuum gauge market, company officials say. MKS is the market leader in direct pressure measurement and Granville-Phillips is a well-regarded leader in indirect vacuum gauges. The Granville-Phillips business will be operated as the Granville-Phillips division of MKS and will be integrated into MKS’ pressure measurement business.
Jerry Colella, MKS’ CEO and president, said in a release, “We are pleased to be able to offer our customers and existing Granville-Phillips customers an extended portfolio of quality products supported by our global sales and service infrastructure. We are also excited to welcome Granville-Phillips employees to MKS and look forward to their contribution to business synergies as we integrate Granville-Phillips into MKS.”
Fisher named VP, branch manager for Fidelity Bank
Scott Fisher of Andover has been named branch and business development manager and vice president in the Fitchburg office of Fidelity Bank, a community bank with offices across central Massachusetts.
Fisher has 12 years of banking experience and was branch sales manager with Santander and vice president and regional manager with Citizens Bank. Following Fidelity’s LifeDesign approach, Fisher will help business and personal clients toward their financial goals and dreams.
Area nonprofit changes name to further mission
Lutheran Social Services, one of the oldest and largest nonprofits in New England, will be changing its name to Ascentria Care Alliance. With a 142-year history and 1,400 employees, the social services organization serves over 20,000 people in 60 locations throughout New England.