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Tuesday, May 21, 2024

BDA consults on the acquisition of MFS Technology by Victory Giant Technology

BDA Partners Facilitates Sale of MFS Technology to Victory Giant for Up to $460M
New York, NY, July 31, 2023 – BDA Partners, a global investment banking advisor for Asia, is excited to announce its role in facilitating the sale of MFS Technology (MFS) to Victory Giant Technology (Victory Giant) for an enterprise value of up to US$460m. BDA Partners advised Tree House Limited (THL) and MFS on the transaction.

MFS is a leading player in the design and manufacture of flexible printed circuits. With headquarters in Singapore and manufacturing facilities in Malaysia and China, the company offers a comprehensive suite of solutions, including R&D, circuit design, material selection, prototyping, and manufacturing and assembly. Following THL’s acquisition of MFS in 2017, the company has established a strong presence in the automotive, industrial, and medical markets, which now account for approximately 75% of its revenues.

Paul DiGiacomo, Managing Partner & Head of Financial Sponsors at BDA Partners, stated, “Our involvement with MFS on two successful transactions is a testament to BDA’s ability to deliver value to our financial sponsor clients. This transaction serves as a great example of how we guide our clients throughout the different stages of business growth and help them manage the complexities related to trade sales.”

Simon Kavanagh, Partner & Head of Industrials at BDA, added, “We are extremely pleased to have advised on this transaction and to have worked with the MFS management team for the second time. MFS and Victory Giant are an ideal strategic fit, and this transaction is an excellent outcome for all stakeholders, including customers and employees. This deal is another testament to our strong industrial practice, our in-depth understanding of advanced manufacturing businesses, and the positive outlook for the PCB and electronics industry.”

The deal team from BDA Partners included Simon Kavanagh, Partner, Head of Industrials in Hong Kong, Jeffrey Wang, Partner, Co-Head of Shanghai, Shanghai, Dorothy Cai, Director, Shanghai, Fengnu Ge, Vice President, Shanghai, Xiao Kun Li, Associate, Shanghai, and Siyu Huang, Analyst, Shanghai.

MFS Technology, headquartered in Singapore, is a global innovator of interconnect solutions, specializing in FPC, PCB, and Rigid Flex for applications in automotive, industrial, and medical sectors. The company emphasizes research and development, circuit design, material selection, rapid prototyping, and top-tier manufacturing and assembly, catering to a global client base across regions including the US, Europe, Greater China, and Southeast Asia.

As a global investment banking advisor for Asia, BDA Partners provides Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. With teams in New York and London, as well as seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo, BDA offers deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, and Technology sectors. The company has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

BDA Partners is committed to earning its clients’ trust by delivering insightful advice and outstanding outcomes. In the US, securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities and Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. For more information, visit http://www.bdapartners.com.

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