AT&S Korea acquired by Somacis

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.