VAT Group

VAT Group AG, historically registered as VAT Vakuumventile AG, is a Swiss industrial technology company specializing in high-performance vacuum valves and associated service solutions. The company was founded by Siegfried Schertler in Flawil, in the canton of St. Gallen, in 1965; its headquarters moved to Haag in the St. Gallen Rhine Valley during the same year. It began with a research-oriented focus and later built its principal market position around the demanding vacuum requirements of semiconductor manufacturing. VAT entered semiconductor technology in 1988, during a period when the industry was rapidly increasing the number of transistors integrated onto silicon chips. Manufacturing these devices requires tightly controlled, low-particle environments, creating demand for reliable vacuum components capable of maintaining process integrity. VAT’s valves became components in equipment used across semiconductor production and subsequently in adjacent high-technology fields. After 2000, the company broadened its exposure to flat-panel display and photovoltaic manufacturing, while continuing to serve vacuum coating, industrial and research applications. Its business is organized into two principal segments. The Valves segment develops, manufactures and supplies vacuum valves for semiconductor, display, photovoltaic and coating processes, as well as for other industrial and scientific uses. In 2024, Valves represented approximately 82% of group turnover, with semiconductor applications accounting for most of that segment and Advanced Industries making up the remainder. VAT reported a semiconductor vacuum-valve market share of approximately 75% at the end of 2023. The Global Service segment complements the installed equipment base by providing local technical support, original spare parts, repairs and upgrades. It accounted for approximately 18% of group turnover in 2024. VAT’s production footprint includes facilities in Haag, Penang in Malaysia and Arad in Romania, while representatives serve customers in 29 countries. Asia is the company’s largest export region, followed by the United States and the EMEA region. The company changed ownership structure in 2014, when Capvis AG and Partners Group Holding AG jointly acquired VAT. VAT subsequently became publicly traded on the SIX Swiss Exchange in 2016. It passed CHF 1 billion in net sales in 2022, reflecting strong exposure to semiconductor and related capital-equipment cycles. In 2023 and 2024, the company continued investing in research, innovation infrastructure and manufacturing capacity, including a new Innovation Center in Haag and further expansion in Malaysia. VAT has also established sustainability and workforce objectives covering emissions, representation of women in management and recruitment, renewable-energy use and employee engagement. The company remains active as a specialized business-to-business supplier whose competitive position depends on precision engineering, process reliability, customer qualification and close integration with global semiconductor-equipment customers.

VAT Group was established by Siegfried Schertler in 1965 in Flawil, Switzerland. The company moved its headquarters to Haag in the St. Gallen Rhine Valley during its founding year. Its early activity emphasized research, but the business later developed around vacuum technology and the requirements of high-precision manufacturing. The semiconductor industry became a decisive growth opportunity during the 1980s. As chipmakers integrated more transistors onto silicon wafers, production processes required increasingly clean and controlled environments. VAT entered semiconductor technology in 1988, supplying vacuum valves designed to support equipment operating under demanding particle-control and process-stability conditions. This specialization helped the company develop a strong position in semiconductor manufacturing equipment. Following the turn of the millennium, VAT expanded beyond semiconductor applications into flat-panel display and photovoltaic production. It also continued to serve vacuum coating, industrial and scientific research markets. The company’s later strategy combined specialized valve development with a global service network offering spare parts, repairs, upgrades and local technical support. In February 2014, the investment firms Capvis AG and Partners Group Holding AG jointly acquired VAT. The company was subsequently listed on the SIX Swiss Exchange in 2016. Its international expansion included a major production investment in Asia announced in 2012. The first phase was completed in 2018, when VAT’s production facility in Penang, Malaysia, was completed. In 2017, the company opened a particle laboratory in San José, California, intended to support research into contamination and performance issues relevant to the industry. VAT reports its business in two segments: Valves and Global Service. Valves is the larger segment and supplies vacuum valves to semiconductor, display, photovoltaic, coating, industrial and research customers. Global Service supports the installed base with technical assistance, original parts, repairs and upgrades. The company’s production sites are located in Haag, Penang and Arad, Romania, and its representatives cover 29 countries. VAT’s financial scale increased substantially with the expansion of semiconductor-related demand, and net sales passed CHF 1 billion for the first time in 2022. In 2023, the company announced that CEO Mike Allison would resign at the end of the financial year. The board selected Urs Gantner, formerly executive vice president of the Semiconductor Solutions Group, to take over from January 1, 2024. During 2023, VAT invested in both research infrastructure and manufacturing capacity. Construction began on a new Innovation Center in Haag, while Plant 1B in Malaysia was completed to support additional production. In 2022, the company also published sustainability objectives for 2022–2030, covering greenhouse-gas reduction, women’s representation in management and recruitment, renewable energy and the integration of environmental, social and governance performance into planning. At the end of 2024, VAT employed approximately 3,200 full-time-equivalent workers worldwide, with about half based in Switzerland. Its 2024 net sales were CHF 942 million, with Valves contributing CHF 774.7 million and Global Service CHF 167.5 million. Asia represented 67% of sales, the United States 19% and EMEA 14%. VAT remains an active, publicly listed Swiss industrial technology company focused on vacuum-control products and services for advanced manufacturing.

• 2024

  Urs Gantner became chief executive

  [1]VAT Groupen.wikipedia.org

  Urs Gantner took over as CEO on January 1, 2024, succeeding Mike Allison.

• 2023

  Innovation and capacity investments continued

  [1]VAT Groupen.wikipedia.org

  VAT started construction of an Innovation Center in Haag and completed Plant 1B in Malaysia.

• 2022

  Net sales exceeded CHF 1 billion

  [1]VAT Groupen.wikipedia.org

  VAT reported net sales above CHF 1 billion for the first time.

• 2018

  Penang production facility completed

  [1]VAT Groupen.wikipedia.org

  The first phase of the Asian production investment was completed with the opening of the Penang facility in Malaysia.

• 2017

  Particle laboratory opened in San José

  [1]VAT Groupen.wikipedia.org

  VAT opened a particle laboratory in San José, United States, to support vacuum and contamination-related development work.

• 2016

  SIX Swiss Exchange listing

  [1]VAT Groupen.wikipedia.org

  VAT became a publicly listed company on the SIX Swiss Exchange.

• 2014

  Acquisition by Capvis and Partners Group

  [1]VAT Groupen.wikipedia.org

  Capvis AG and Partners Group Holding AG jointly acquired VAT.

• 2012

  Asian production investment announced

  [1]VAT Groupen.wikipedia.org

  VAT launched an investment program for a production center near its growing Asian customer base.

• 1988

  Entry into semiconductor technology

  [1]VAT Groupen.wikipedia.org

  VAT entered semiconductor technology, building on its vacuum expertise and the industry’s need for highly controlled production environments.

• 1965

  Company founded and headquarters moved to Haag

  [1]VAT Groupen.wikipedia.org

  Siegfried Schertler founded the company in Flawil, Switzerland, and the headquarters moved to Haag in the same year.

A specialized global supplier of precision vacuum valves and lifecycle services, positioned around process reliability, low-particle performance and close technical relationships with semiconductor and other advanced-manufacturing customers.

• Semiconductor manufacturing equipment · 1988

  Semiconductor vacuum valves

  VAT develops and manufactures high-performance vacuum valves used in semiconductor production equipment. These products help isolate, regulate and control vacuum environments in processes where particle contamination, leakage and process instability can affect device yield. Semiconductor applications form the largest part of the Valves segment and are central to VAT’s market position.

• Industrial and advanced manufacturing equipment

  Advanced Industries vacuum valves

  This product area serves display, photovoltaic, vacuum-coating, industrial and research applications. The valves are designed for specialized vacuum processes outside mainstream semiconductor fabrication and extend VAT’s engineering platform into other markets requiring controlled vacuum conditions.

• Industrial equipment services

  Global Service

  Global Service provides local customer support, original spare parts, repairs and upgrades for VAT products. The segment is intended to preserve equipment performance over its operating life and to support customers through maintenance, refurbishment and changes in production requirements.

• 2023

  Innovation and manufacturing expansionStrategy

  Background

  VAT continued investing in research capabilities and capacity to support advanced-manufacturing demand.

  Action taken

  The company began construction of a new Innovation Center in Haag and completed Plant 1B in Malaysia.

  Aftermath

  The projects expanded the company’s development infrastructure and Malaysian production footprint.

  Source

• 2023

  CEO succession decisionOther

  Background

  Mike Allison announced his planned departure at the end of the 2023 financial year.

  Action taken

  The board appointed Urs Gantner, formerly executive vice president of the Semiconductor Solutions Group, as CEO effective January 1, 2024.

  Aftermath

  Gantner assumed leadership while VAT remained focused on semiconductor-related growth, innovation and capacity investment.

  Source

• 2014

  Joint acquisition by Capvis and Partners GroupM&A

  Background

  VAT entered a new ownership phase under two investment firms.

  Action taken

  Capvis AG and Partners Group Holding AG jointly acquired VAT.

  Aftermath

  VAT proceeded to a public listing on the SIX Swiss Exchange in 2016.

  Source

• 2012

  Investment in Asian production capacityStrategy

  Background

  VAT identified a need to locate production capacity closer to its rapidly expanding Asian customer base.

  Action taken

  The company launched a broad investment program for a production center in Asia, later completed in Penang, Malaysia.

  Aftermath

  The first phase was completed in 2018, strengthening VAT’s manufacturing presence in the region that later accounted for the majority of group sales.

  Source

1. 1VAT Groupen.wikipedia.org