Philips sells majority stake in Assembléon to equity firm

Royal Philips Electronics has announced that it intends to sell a majority stake in Assembléon to H2 Equity Partners, an independent private equity firm.

Philips will retain a 20 per cent stake in Assembléon once the transaction, which is subject to the advice of the works council and customary regulatory filings, is completed.

Assembléon, with headquarters in Veldhoven, the Netherlands, is a global supplier of so-called surface mount technology pick and place solutions for the electronics manufacturing industry.

Financial details of the proposed transaction will not be disclosed.