Hong Kong (PRWEB) July 6, 2008
Business Development Asia LLC ("BDA") announces that it acted as exclusive financial advisor to Molex Inc (NASDAQ: MOLX and MOLXA), a global electronic components company, on Molex's acquisition of Taiwan-based AFlextech Inc ("AFlextech"). Euan Rellie and Paul DiGiacomo led the BDA transaction team.
AFlextech designs and manufactures a variety of flexible circuits and assemblies that provide innovative power and signal interconnect solutions. AFlexTech's unitized package helps lower total applied costs and enhances reliability of the finished assembly.
Molex stated that following the acquisition, it would provide flex circuit products in both the 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."
Sando Chen, General Manager, AFlextech Inc, said that 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 http://www.molex.com.
About Business Development Asia LLC
BDA was founded by Euan Rellie and Charles Maynard in 1996. BDA assists multinational 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 eight offices, supplemented 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, 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. Information on BDA is available at http://www.bdallc.com.
BDA Transaction Team
Euan Rellie, Senior Managing Director, New York, erellie @ bdallc.com
Paul DiGiacomo, Managing Director, Hong Kong, pdigiacomo @ bdallc.com
Douglas Lui, Senior Associate, Hong Kong, dlui @ bdallc.com
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.