GT ADVANCED TECHNOLOGIES ACQUIRED BY ARIZONA COMPANY

GT Advanced Technologies is being acquired for $415 million by onsemi, a publicly traded company, five years after the Hudson manufacturer of advanced materials emerged from a bankruptcy that stemmed from a disastrous deal with tech giant Apple.

The Phoenix-based onsemi is a semiconductor company with annual sales of over $5 billion and more than 30,000 employees, three-quarters of whom are in Asia. It is mainly acquiring GTAT’s ability to produce silicon carbide, a material used to make high-voltage batteries used in electric vehicles, charging stations and for storage used in conjunction with renewable energy.

GTAT got its start as a materials company serving the clean energy market when it when it was founded by Kedar Gupta in 1994. Back then, it primarily sold the equipment used to make the material used in solar cells. But shortly after going public in 2008, it diversified into other materials, particular sapphire, and that eventually attracted the attention of Apple, which was looking for more durable material for its new Apple watch and next-generation phone.

GTAT agreed to a deal with Apple to build a manufacturing facility in Arizona in the fall of 2013, but the company had no experience in mass manufacturing and quality control, and the deal fell apart, forcing the company into bankruptcy a year later. After years of litigation, the company emerged from bankruptcy in 2016, owned by a private equity firm.

The merger still needs regulatory approval and is not expected to close until the first half of next year.

MINIM SEES BIG SALES BOOST IN SECOND QUARTER

Buoyed by Amazon Prime Day sales of its high-end routers, Manchester-based Minim saw a 45% sales increase, to nearly $15 million, in the second quarter.

But thanks to expenses — including getting ready for said Prime Day — the maker of Motorola-branded smart networking products reported a net loss of $1.6 million, roughly 4 cents a diluted share, according to an earnings report released last week. That’s about $100,000 more than the same quarter last year.

The company did get a big boost from Prime Day, which exceeded the prior four years of Prime Day performances combined. The sales deluge also resulted in a lot of deferred revenue, some $15.6 million that it can’t recognize yet.

The company did not give guidance but said it expected a number of “tailwinds” that would accelerate growth.

First, it has started expanding into India. Second, it has expanded its retail presence — already in Best Buy, Staples, Target and Walmart stores — to the Home Shopping Network, Home Depot, Lowe’s, Sam’s Club and BJ Wholesale Clubs. The company is also partnering with Facebook and Microsoft to extend worldwide sales.

METHUEN CONSTRUCTION ACQUIRED BY COLORADO BUILDER

Methuen Construction of Plaistow, a 60-year-old regional construction company based in New Hampshire, has been acquired by a Colorado-based firm.

MWH Constructors, of Broomfield, Colo., is a wastewater infrastructure builder — a specialty that’s very much in sync with Methuen’s expertise. Terms of the deal were not disclosed.

Among Methuen’s current projects are a $40 million pump station and water treatment plan on the Merrimack River for Manchester Water Works, a $70 million upgrade of the Peirce Island wastewater treatment plant in Portsmouth, and construction of a $509 million paint, blast and rubber facility at the Portsmouth Naval Shipyard.

MWH, whose corporate roots date to the 19th century, specializes in building water infrastructure around the country.

Methuen will operate as a separate entity and will remain headquartered in Plaistow.