Stonebridge buys chip parts maker Foice for $145 million

Stonebridge Capital completed the acquisition of an 83% stake in semiconductor equipment maker Foice on Oct. 15, 2026, paying 200 billion won ($145 million) to secure controlling ownership.

The transaction transfers majority equity held by the founder and existing management of Foice to the private equity buyer. Samjong KPMG managed the sale process, while Deloitte Anjin and Bae, Kim & Lee LLC provided buy-side advisory services.

The buyout values the unlisted supplier at approximately 240 billion won ($174 million). The valuation reflects growing demand for precision chemical delivery systems across advanced fabrication lines in South Korea.

Foice operates its primary manufacturing base in Ansan, Gyeonggi Province, building automated chemical delivery machinery. The company specializes in systems that transport high-purity chemical precursors into wafer deposition chambers.

Precursors are volatile chemical compounds used to deposit atomic layers of dielectric and conductive materials onto silicon wafers. The chemicals require specialized sealed equipment to prevent atmospheric contamination or toxic leakage.

Delivery modules regulate pressure, vapor flow and temperature while channeling reactive compounds into process tools. Even minor fluctuations in fluid volume cause thin-film defects that reduce finished semiconductor yields.

Foice supplies its delivery hardware directly to Samsung Electronics and SK hynix. Both chipmakers rely on domestic suppliers to reduce dependence on foreign equipment vendors for chemical delivery systems.

The supplier expanded beyond conventional gas delivery into liquid and solid precursor handling systems. It completed field evaluations of next-generation chemical modules and shared performance metrics with customer engineering teams.

The acquisition arrives as memory manufacturers accelerate capital expenditure for artificial intelligence chips. Demand for high-bandwidth memory and dense stacked NAND drives heavier consumption of chemical precursors per wafer.

Samsung Electronics and SK hynix plan to commission new domestic fabrication lines in 2027. Both memory producers hold long-term supply arrangements that offer equipment makers steady order visibility over three to five years.

Equipment procurement volumes will expand as next-generation fabrication lines install specialized chemical piping networks, an investment banking official familiar with the transaction said. Foice secured critical positioning for those factory tenders, the official said.

Stonebridge Capital manages approximately 3.6 trillion won ($2.6 billion) in cumulative assets under management. The mid-market private equity house has completed investments across cloud software, industrial containers and specialty chemicals.

The buyout reflects a broader pattern of private equity firms rolling up secondary semiconductor vendors. Financial buyers use bolt-on strategies to consolidate specialized component makers into unified operating platforms with larger balance sheets.

Keistone Partners completed the buyout of packaging equipment maker SSP for 400 billion won ($290 million) earlier this year. SSP holds an estimated 60% domestic share in semiconductor ball-mount packaging equipment.

Hansol Technics purchased an 84% stake in probe-card manufacturer Will Technology for 177 billion won ($128 million) in April. The industrial group combined electronic component lines with specialized semiconductor test hardware.

Specialized component suppliers in South Korea have historically struggled to surpass 100 billion won in annual revenue due to concentrated client exposure. Private equity sponsors supply institutional capital to expand production capacity.

Stonebridge Capital plans to recruit engineering personnel and upgrade quality testing cleanrooms at the Ansan facility. The sponsor aims to professionalize managerial oversight before pursuing complementary component acquisitions.

Consolidation allows component suppliers to finance research into harsher process chemistries required by sub-two-nanometer foundry nodes. Advanced nodes use novel organometallic precursors that corrode standard delivery valves and seal assemblies.

The official terms and definitive purchase agreement have not been published in regulatory filings, as neither Stonebridge Capital nor Foice is required to file public disclosures with the Financial Supervisory Service for the unlisted transaction.

The exact contract execution date and final cash consideration remain confined to market reports rather than statutory exchange disclosures. Regulatory databases hold no equity transfer notifications for the closely held equipment manufacturer.

South Korean chipmakers finalize capital allocation plans and review annual vendor performance every November. Those annual assessments will establish equipment delivery quotas for the upcoming construction cycle.