Baker McKenzie advises VAT on Atonarp acquisition
Baker McKenzie has advised VAT Group, a supplier of vacuum valves and vacuum-sealing technology, on its agreement to acquire Atonarp Inc., a Japan-based company specializing in real-time molecular profiling for semiconductor and industrial processes. Under the terms of the agreement, VAT will acquire 100% of the outstanding shares of Atonarp from its current shareholders for a total consideration of approximately CHF 110 million, payable in cash.
Deal Details
VAT intends to finance the acquisition through a committed bilateral loan agreement of CHF 110 million. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions including regulatory approvals. Until closing, VAT and Atonarp will continue to operate as separate and independent companies.
The acquisition is aligned with VAT Group’s 2025 growth strategy and expands its portfolio beyond core valve technologies. Atonarp’s miniaturized mass spectrometry sensors enable in-situ, real-time monitoring inside semiconductor process chambers, a capability that is becoming increasingly relevant as chip manufacturing advances toward sub-2nm nodes.
The Baker McKenzie team
Baker McKenzie advised VAT Group on all legal aspects of the transaction. The cross-border team was led by M&A Partner Alexander Fischer (Zurich), together with Cathrin Marxer (Senior Associate, M&A, Zurich) and Andrew Tyau (Senior Associate, M&A, London).
The Swiss team also included Julia Schieber (Partner, Intellectual Property/Technology), Boris Wenger (Partner, Antitrust & Competition), Markus Wolf (Partner, Banking & Finance), Jasmin Spoerri (Associate, M&A) and Laksanaporn Chaiyakham (Associate, M&A).
The Japan team consisted of Akira Inoue (Partner, Litigation/Arbitration & Dispute Resolution), Seiji Tomimoto (Partner, Corporate), Hiroaki Nagahashi (Of Counsel, Litigation/Arbitration & Dispute Resolution), Tatsuya Niwa (Senior Associate, M&A), Masayuki Shinoura (Senior Associate, Litigation/Arbitration & Dispute Resolution), Satoshi Ishii (Associate, M&A) and Kana Nomizo (Associate, M&A).
In the UK, George Ewen (Senior Associate, Private Equity) advised on the transaction, while the US team comprised Benjamin Ho (Partner, Employment & Compensation), Victor Durham-Flores (Partner, Employment & Compensation), Michelle D’Souza (Associate, Corporate) and Kasey Isobe (Associate, Employment & Compensation).
Pictured: Alexander Fischer
