New investment to enhance customer support and spur growth.

An affiliate of Bayside Capital, announced that it has purchased substantially all the assets of Akrion, a provider of surface preparation systems to the semiconductor and solar industries. The transaction includes a major investment from Bayside and positions the company for growth in both the semiconductor and solar cleaning equipment markets. Customers will benefit from the transaction through new product introductions, enhanced service levels and expanded R&D.

"The transaction provides a long term financial partner for Akrion Systems," said James S. Molinaro, President and CEO. "We have the resources to continue to provide superior support to existing customers while investing in research and development to grow both our batch immersion and single wafer product lines."

Bayside Capital, based in Miami, has a strong track record of improving the performance of independent companies. Members of the Bayside team will serve on Akrion System's board, while management will oversee day to day operations.

"Akrion Systems has a winning combination of proprietary technology, a global service team and deep customer relationships,” said Adam Schimel of Bayside Capital. “The company will benefit from the growing importance of surface preparation as semiconductor device geometries shrink. The company is also helping the solar industry produce more efficient solar cells at a lower cost. With Bayside's investment and ongoing strategic and operational support, Akrion Systems is well positioned to become the premier provider of surface preparation systems to the solar and semiconductor industry."