2022/11/03

BDA advises onsemi on sale of Niigata foundry to Mercuria, Sangyo Sosei, Fukuoka Capital

divested Niigata fab to

2022

BDA Partners is pleased to announce that On Semiconductor Corp (“onsemi”, Nasdaq: ON) has agreed to sell its wafer manufacturing facility in Niigata, Japan to investment vehicles managed by Mercuria Holdings Co Ltd, Sangyo Sosei Advisory Inc, and Fukuoka Capital Partners Co Ltd. 

The transaction is expected to close as soon as regulatory approvals are received and closing conditions are met.

Careful consideration was given to the selection of the buyer because the foundry is responsible for supplying analog and power semiconductors, which are indispensable for various industries, including automotive. This transaction establishes Japan’s first independent specialty semiconductor foundry.

BDA Partners was the exclusive financial advisor, and Morrison Foerster was the legal advisor, to onsemi on the transaction.

Jeff Acton, Head of Technology and Co-Head of Tokyo, BDA Partners, said: “We’re proud to have helped onsemi achieve its stated objective, to divest this asset to a strong buyer group. The prognosis for this important Japanese facility is highly promising.”   

Euan Rellie, Managing Partner, BDA Partners, added: “onsemi is an important client for BDA, as it drives disruptive innovations to help build a better and more sustainable future. BDA has a good record of helping multinational industrial leaders to reposition their assets in Asia. This transaction is a win for all parties.”

Deal team

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner, and smarter world. onsemi is recognized as a Fortune 500® company and included in the S&P 500® index. www.onsemi.com

About Mercuria Investment

Mercuria Investment Co Ltd operates an investment management company in Japan. Mercuria offers fund management, investment consulting, and other services. Mercuria is a multi-strategy investment management group with offices in Tokyo, Beijing, Hong Kong and Bangkok, and its AUM is US$2bn. Mercuria has provided innovative solutions in growth, buyout and real asset investments to Japanese and overseas investors. www.mercuria.jp/english

About Sangyo Sosei

Sangyo Sosei Advisory (SSA) was created in 2009 as Japan’s first independent financial advisor focusing on Technology, Media, Telecommunications (TMT) sectors. Our goal was to bring a unique combination of global and local industry knowledge, deep transaction experience, and thoughtful advice to our clients. We have since become among the most active financial advisors in the Japanese market and represented many of the leading TMT and Renewable Energy companies around the world. sangyososei.com/eng

About Fukuoka Capital Partners

Fukuoka Capital Partners is a private capital firm and an affiliate company of Fukuoka Bank. The firm was established in 2006 with the aim of developing the local economy of the Kyushu region, Japan. The firm manages multiple Kyushu-focused funds covering PE/VC, PD, RE, and NR. www.fukuokacp.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com

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