Mooreland's China Cross-Border M&A Practice Gains Traction in Industrial Automation
LONDON, April 21, 2016 /PRNewswire/ --Mooreland Partners (www.moorelandpartners.com), the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to JOT Automation (www.jotautomation.com) on its sale to Wuxi Lead Intelligent Equipment Co., Ltd. (www.chinaxiandao.com/en) for EUR 74 million. The transaction is expected to close in the third quarter of 2016.
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Headquartered in Oulu, Finland, JOT Automation is a leader in automated test and assembly solutions for the consumer electronics manufacturing industry. JOT Automation's production testing tools have been used to manufacture billions of devices since its founding in 1988, and the company's customers include some of the largest mobile and computing device OEMs.
Wuxi Lead Intelligent Automation based in Wuxi, Jiangsu, China, designs, manufactures, and implements industrial equipment for use in lithium-ion battery, photovoltaic, and capacitor factories, and has established itself as a long-term strategic partner with multiple tier-1 technology companies, including Samsung, Panasonic, and Sony, and is recognized as the global leader in lithium-ion battery manufacturing equipment.
"The acquisition of JOT Automation will provide Wuxi Lead Intelligent Automation with world class automation design capability and accelerate its global expansion" said Peter Globokar, Managing Director at Mooreland. "This is Mooreland's second cross-border China M&A transaction this year. Mooreland has been able to capitalize on its deep knowledge of the industrial automation sector, and bring together two industry leaders," added Mr. Globokar.
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