MKS Inc.

Inside almost every semiconductor fab sits equipment from MKS, though few outside the industry know the name. The company supplies the instruments and subsystems that control the vacuum, gas flow, pressure, and power inside chipmaking tools, the unseen plumbing that lets processes run precisely. It sells to the big equipment builders rather than to chipmakers directly. Two large acquisitions widened the story: Electro Scientific Industries brought laser systems, and Atotech added specialty chemicals and plating used in printed circuit boards and advanced packaging, pushing MKS deeper into the wiring that connects chips. Founded in 1961 and based in Andover, Massachusetts, the company dropped Instruments from its name in 2023. The Atotech deal loaded MKS with debt, so investors watch its cash generation and the semiconductor spending cycle closely, since both drive how fast it can pay that down.

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