EquipNet strengthens position with acquisition of Quality Equipment Source
The world's largest specialist asset management company, EquipNet has concluded an agreement to acquire California-based, Quality Equipment Source, Inc. (QES), a well-known partner to companies looking to buy and sell used and refurbished equipment.
As part of the agreement, EquipNet will establish its operations in San Jose, California at QES's former 17,500 sq ft office & warehouse facilitIy. QES President, Gustavo Ortega and the entire QES staff will all join EquipNet.
The new integrated business will offer a global sourcing network for secondary semiconductor equipment "“ from a single tool, to a complete FAB. Advice and consultancy on all aspects of buying and selling are available, including: refurbishment, installation, rigging, crating, shipping, customs support, and custom configuration and training.
Ben Potenza, VP of Marketing at EquipNet, commented: "We are thrilled to be bringing a company with such a strong reputation as Quality Equipment Source into our business. This is an exciting and important boost for EquipNet that supports our plans for further growth in this field. With industry sources estimating that roughly 10% of the overall wafer fab equipment (WFE) sales are used equipment, I am certain that combining the expertise of QES founder and long-time electronics industry pioneer, Gustavo Ortega with EquipNet's proven service-led business model, we will establish a new dynamic in the global semiconductor market."
QES President, Gustavo Ortega stated: "We are excited to be combining forces with such a renowned asset management company as EquipNet and look forward to the start of a long and prosperous relationship between both the former QES and current EquipNet teams. We hope that the pooling of skills from both organisations will help future growth in the semi industry."
