Davis Polk advised Ultra Clean Holdings, Inc. on its acquisition of substantially all of the assets of Dynamic Manufacturing Solutions, LLC for $30.0 million in cash, subject to post-closing adjustments, and up to $12.5 million of potential cash earn-out payments if DMS achieves certain specified gross profit performance between 2019 and 2020.

Headquartered in Hayward, California, Ultra Clean is a leading developer and supplier of critical subsystems for the semiconductor and display capital equipment industries. Based in Austin, Texas, DMS is a semiconductor weldment and solutions provider and offers a complete range of weldment solutions, from build to print outsourcing, to turnkey design and product realization.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jason Bassetti and associate Stephanie Y. Cheng. The tax team included partner Rachel D. Kleinberg. Partner Frank J. Azzopardi and associate Michael V. Policastro provided intellectual property and technology advice. Counsel Gregory D. Hughes provided executive compensation advice. Counsel David A. Zilberberg and associate Megan Cronin provided environmental advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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