BDA advises Advantage Partners on sale of FICT to MBK Partners and FormFactor

BDA Partners is pleased to announce that funds advised by its client, Advantage Partners (AP), have agreed to sell all its holdings in FICT Limited to a consortium formed by funds managed by MBK Partners K.K. and FormFactor, Inc. All regulatory and third-party approvals and conditions have been satisfied. The transaction is expected to close shortly.

FICT designs and manufactures high-end printed circuit boards (PCBs) and substrates. For more than half a century, FICT has been at the forefront of technological advancements in the field of interconnect technologies, such as high-multilayer printed circuit boards, semiconductor package substrates, space transformers, and multilayer organic substrates for probe cards. FICT’s products are instrumental in shaping the future of the advanced information network society, including applications from supercomputers to semicon test equipment.

Jeff Acton, Partner and Head of BDA Tokyo, said: “We’re proud to have supported FICT to find new partners for its next phase of growth. FICT is enabling the development of cutting-edge semiconductor technologies. This transaction demonstrates the strong connections between Japan and the global market in the semicon sector.  We’re also proud to have advised Advantage Partners; this is our second transaction for AP in 18 months, having previously advised on the sale of Wavedash to Vivid Seats.”

Toshiaki Yokohara, Managing Director and Head of BDA’s Japan Industrials team, said: “BDA has become a leading advisor in the semicon sector, having advised on five transactions in semicon and PCBs in the last two years. BDA’s strong presence in Japan, and our global network, enable us to advise clients effectively in the fast-growing semicon market. We see strong growth and opportunities for our corporate and PE clients in the sector going forward.”

BDA acted as financial advisor, alongside Daiwa Securities, to Advantage Partners. Nagashima Ohno & Tsunematsu acted as legal counsel to Advantage Partners.