mynth
09/2024100%

AT&S Korea acquired by Somacis

KOREA, SOUTH Hardware & Electronics / Electronic Components REV €50–100M

Context

Global printed circuit board manufacturer Somacis Group finalized the acquisition of 100% of the share capital of AT&S Korea CO., LTD. from Austrian technology group Austria Technologie & Systemtechnik AG. Executed through the Milan-based acquisition vehicle Castello (BC) Bidco S.p.A., the cross-border buyout formally closed on 31 January 2025 following the initial sale and purchase agreement executed on 23 September 2024. The purchasing entity operates under the institutional ownership of private equity sponsors Bain Capital and Chequers Capital, the latter retaining a minority holding following Bain Capital's buyout of a controlling interest in July 2024. From the vendor's perspective, as articulated by Chief Financial Officer Petra Preining and Chief Executive Officer Andreas Gerstenmayer, the divestiture allows the Vienna-listed parent company to sharpen its strategic profile and reallocate capital toward high-growth semiconductor packaging, particularly integrated circuit (IC) substrates. Under the terms negotiated between the parties, the transaction transfers complete ownership of the South Korean manufacturing entity to the Italian buyer. According to Peter Schneider, Executive Vice President of the seller's Electronics Solutions unit, the deal transitions the Korean unit to an owner committed to funding flexible microelectronics development. Somacis plans to support the existing management team while injecting additional investment to scale technical competencies and offer global clients enhanced supply-chain flexibility. The completion of the share purchase agreement followed the receipt of all required regulatory clearances. Sell-side advisory was coordinated exclusively by investment bank Houlihan Lokey, which managed the transaction process and structured the negotiations on behalf of the Austrian vendor.

AT&S Korea, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average observed in the TMT (Tech, Media, Telecom) sector (16.1x in 2024).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Specialist in high-reliability printed circuit boards for medical and industrial applications, AT&S Korea CO., LTD. operates a specialized manufacturing plant located in Ansan, South Korea. The facility focuses on engineering advanced interconnect solutions, specifically high-density interconnect (HDI) flexible, rigid-flex, and multilayer rigid circuit boards. The company's core technological offering centers on manufacturing miniaturized, highly flexible microelectronic substrates engineered to conform to virtually any form factor. Its commercial operations primarily address the stringent regulatory frameworks governing healthcare hardware, specifically compliance standards enforced by the United States Food and Drug Administration (FDA) and the European Medical Device Regulation (MDR). In this high-consequence segment, the production lines supply mission-critical components tailored for life-sustaining auditory and diagnostic devices, including hearing aids, cochlear implants, and complex medical imaging systems. Outside the medtech sector, the entity delivers electronic circuits to diversified industrial niches requiring zero-defect reliability and sustained physical durability. Serving a client base predominantly located across European markets, the business aligns its manufacturing protocols with demanding customer specifications and rigorous technical audit standards.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€50–100M
[members only]
[members only]
2023
€50–100M
[members only]
[members only]

Other operations with Somacis

Other operations with Somacis
DateAcquirerTargetCountrySector
01/2026SOMACISACB GROUPBELGIUMElectronic Components
08/2024BAIN CAPITALSOMACISITALYElectronic Components
07/2024SOMACISDYCONEXSWITZERLANDSemiconductors

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REFERENCES

Revenue range: REV €50–100M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AT&S Korea by Somacis are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: somacis

FAQ

What transaction does this page cover?

This page covers Somacis’s acquisition of 100% of AT&S Korea, a KOREA, SOUTH company specialised in Electronic Components, in 2024.

What was AT&S Korea’s revenue at the time of the deal?

At the time of the transaction, AT&S Korea’s annual revenue was estimated within the €50–100M range. Detailed financial figures are available to members.

How does the valuation of AT&S Korea compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 16.1x EBITDA during 2024.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

What is mynth?

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