Last night, the firm has signed a definitive agreement with Dover Technologies International, a subsidiary of Dover Corp., to acquire several Dover units, including Vitronics Soltec, a leading supplier of soldering technology for the electronics manufacturing and assembly industries, and placement equipment OEM Universal Instruments.

The deal also includes Unovis, the newly created unit that encompasses the SMT process lab and semiconductor equipment lines of Universal and the feeder lines of Hover-Davis.

The units will continue to operate under current management team and strategies.
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Vitronics Soltec president Erik Tobiason said, "We are enthusiastic about becoming a member of the Francisco Partners portfolio. Throughout our discussions, I have been impressed with Francisco Partners deep industry knowledge, management expertise and extensive relationships in the technology sector, as well as their focus on long term strategy, which is in line with the philosophy that has grown our company to be a world leader in soldering technology. We are looking forward to prospering together as our vibrant company moves ahead. I am confident Francisco will be an excellent partner and enabler."

Universal Instruments president Jeroen Schmits said, “I am delighted at the opportunity to work with a respected firm like Francisco Partners. Francisco is a company that understands and accepts the cyclical market environments in which Universal operates. Under this new and promising ownership, we will maintain our intense investment schedule and manufacturing facilities in Binghamton, New York, and in Shekou, China. We will soon introduce new platform models that extend our product lines and support further growth.

Francisco is active across a broad range of technology sectors, including semiconductors and capital equipment, electronics components and manufacturing, IT services and business process outsourcing, communications, security, and application and infrastructure software. It has approximately $5 billion in capital and concentrates on investments up to $500 million.

Francisco also owns C-MAC and SMART Modular Technologies.