1 July 2008
BDA advises Molex on the acquisition of AFlextech Inc in Taiwan
Acquired FlexTech Inc in Taiwan
Business Development Asia LLC (“BDA”) is pleased to announce that Molex Inc (NASDAQ: MOLX and MOLXA), a global electronic components company, has completed the acquisition of Taiwan-based AFlextech Inc (“AFlextech”). BDA acted as adviser to Molex on the transaction.
AFlextech designs and manufactures a variety of flexible circuits and assemblies that provide innovative power and signal interconnect solutions in a unitized package that also helps lower total applied costs and enhances reliability of the finished assembly.
Molex stated that following the acquisition, it could now provide a variety of flex circuit products in both U.S. and Asia. According to Todd Hester, Molex’s Vice President and General Manager of the Printed Circuit Products unit of the Global Integrated Products Division, “This is a strategic acquisition that will help Molex boost its share of the global flex circuit market.”
“AFlextech is an excellent fit for Molex because it expands our flex circuit capabilities in terms of product offerings and markets as well as geographically,” said Hester. “AFlextech specializes in 1 to 10 layer flex circuits for applications that include consumer handheld devices such as smart phones and personal medical electronics as well as computer peripherals, data storage and automotive. We already offer more complex circuits of up to 20 layers for military, datacom, industrial and large medical equipment through our Copper Flex Products business in St. Paul, Minnesota. So now we can offer a wide range of flex circuit products, supported by our connector design and technical expertise, in both the U.S. and Asia. And because AFlextech was a Molex supplier, we are familiar not only with their solid capabilities but with their commitment to quality and customer service. AFlextech has technical expertise, a strong customer base, and an excellent group of talented and experienced people. With Molex’s global resources we are confident that together we will grow even faster in the rapidly expanding market for flex circuit boards.”
According to Sando Chen, General Manager, AFlextech Inc, the company also offers Molex expanded capabilities for SMT, through-hole and hybrid assembly in addition to flex circuit capabilities. “The combination of Molex’s global footprint and resources with AFlextech’s flex circuit expertise and assembly services will help expand our offerings globally,” Chen said. “The employees and management staff at AFlextech are excited to join the Molex family.”
AFlextech was founded in 2003 and has sales of approximately US$25m and 300 employees. It will operate as a subsidiary of Molex Inc. and will be part of the company’s Global Integrated Products Division. Terms for the transaction were not disclosed.
Molex Inc. is a 70-year-old global manufacturer of electronic, electrical and fiber optic interconnection systems. Based in Lisle, Illinois, U.S, the company operates 59 manufacturing facilities in 19 countries. The Molex website is www.molex.com.
About Business Development Asia
Business Development Asia LLC was founded in 1996. BDA assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 55 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s client list includes Air Products, Cadbury Schweppes, Celestica, DIC, DuPont, Ecolab, Global Power, Godrej, Great Lakes, Hanjin Shipping, Hercules, Huntsman, Inabata, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Morgan Stanley, Nalco, Reuters, Rohm & Haas, Ryder, Siemens, SigmaKalon, Sumitomo Chemical, Sun Chemical, TATA Auto Components, Tenneco, Tredegar, Visteon, WR Grace, and the British Government. Further information on BDA is available at www.bdapartners.com.
BDA Transaction Team
For more information regarding this transaction, please contact Euan Rellie in New York on (1) 212 265 5300 or Paul DiGiacomo in Hong Kong on (852) 9186 4170.
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