Royal Philips Electronics sells majority stake

Royal Philips Electronics announced today it intends to sell a majority stake in its subsidiary Assembléon to H2 Equity Partners, an independent private equity firm. H2 Equity Partners will take an 80% stake in the company and Philips will retain 20% 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 surface mount technology pick and place solutions for the electronics manufacturing industry. The company has regional offices in Alpharetta and Hong Kong and employs just over 400 people.