BDA advises on the sale of MFS Technology to Victory Giant Technology

BDA Partners is pleased to announce that its client, Tree House Limited (“THL”), has entered into an agreement with Victory Giant Technology (“Victory Giant”) for the sale of MFS Technology (“MFS”) for an enterprise value of up to US$460m.

BDA Partners advised THL and MFS on the transaction.

MFS is an industry leader and pioneer in the design and manufacture of flexible printed circuits. Headquartered in Singapore and with manufacturing facilities in Malaysia and China, MFS offers a comprehensive suite of solutions, including R&D, circuit design, material selection, prototyping, and world-class manufacturing and assembly. THL acquired MFS in 2017; since then, MFS has built a strong presence in the high-value, fast-growing automotive, industrial, and medical markets, which now account for approximately 75% of its revenues.

Paul DiGiacomo, Managing Partner & Head of Financial Sponsors, BDA, said, “Our involvement with MFS on two successful transactions is a testament to BDA’s ability to deliver value to our financial sponsor clients. This transaction serves as a great example of how we guide our clients throughout the different stages of business growth and help them manage the complexities related to trade sales.”

Simon Kavanagh, Partner & Head of Industrials, BDA, said, “We are extremely pleased to have advised on this transaction and to have worked with the MFS management team for the second time.  MFS and Victory Giant are an ideal strategic fit and this transaction is an excellent outcome for all stakeholders, including customers and employees. This deal is another testament to our strong industrial practice, our in-depth understanding of advanced manufacturing businesses, and the positive outlook for the PCB and electronics industry.”