Paris-based Tikehau Capital, an asset management and investment company, announced on Wednesday, September 28, that it has invested $30M (approximately €30M) in Probe Test Solutions Limited (PTSL), a Scottish semiconductor probe card manufacturer. The French company also acquired a minority stake as a part of the investment.
This $30M investment has been made through Tikehau Capital’s pan-European growth impact private equity strategy. Tikehau Capital will provide PTSL with the operational and strategic support needed to accelerate further international expansion and the next phase of growth and development.
PTSL’s founder and CEO, Jordan Mackellar, will retain a majority stake in the business.
Manufactures probe cards
Founded by Jordan Mackellar in 2009, Probe Test Solutions Limited designs and manufactures probe cards.
A probe card is an interface between an electronic test system and a semiconductor wafer.
The company is headquartered in Glasgow, Scotland, and has a presence in Europe, the US, and Asia.
“We are extremely excited with the investment from Tikehau Capital, an endorsement of the PTSL team’s exceptional performance in recent years and our future growth strategy. This is the first investment in PTSL since inception, and I’m happy to partner with the Tikehau team as we embark on the next phase of PTSL’s growth story,” says Jordan Mackellar, CEO PTSL.
He adds, “This partnership, coupled with the financial investment, allows us to accelerate our technology innovation and strengthens our ability to make significant Capex investments while also considering acquisitions within the semiconductor industry. Our intention is for PTSL to lead in setting the tone on sustainability, redefining ESG best practices within the semiconductor probe card space.”
Tikehau Capital: What you need to know
Tikehau Capital is a global alternative asset management group with €36.8B of assets under management as of June 30, 2022.
The company has developed a wide range of expertise across four asset classes – private debt, real assets, private equity, and capital markets strategies, as well as multi-asset and special opportunities strategies.
Tikehau Capital provides bespoke alternative financing solutions to the companies and seeks to create long-term value for its investors.
“We are delighted to partner with PTSL as it embarks on its next chapter of growth. The company’s differentiated business model has enabled it to carve out a solid position in a rapidly growing market. We look forward to working with Jordan and the wider PTSL team, leveraging our expertise and presence in key global markets to accelerate its international expansion and to help them execute their transition to being an industry benchmark on sustainability,” says Corinne Philipps, Head of UK Private Equity activity for Tikehau Capital.