International law firm Reed Smith has advised EIS Optics on its acquisition of Oerlikon Optics, a Shanghai-based business, for an undisclosed amount.
International law firm Reed Smith has advised EIS Optics on its acquisition of Oerlikon Optics, a Shanghai-based business, for an undisclosed amount.
EIS Optics is a UK-based company formed for this purpose by London based private equity firms FF&P Private Equity and Nova Capital Management.
The deal, which involved shares and assets located in several jurisdictions, is due to close in early September subject to approval from the Chinese regulatory authorities.
As part of the deal all shares of Oerlikon Optics Shanghai and certain relevant assets and employees in China, Liechtenstein, US, Japan and Taiwan in related Oerlikon businesses will be transferred to EIS Optics.
The Oerlikon Optics operation produces high volume coated optical components for an international customer base in the projection display and other optical component markets.
James Wilkinson, lead corporate partner on the transaction, says: ‘It has become clear that China will play a key role in the recovery of the global economy in the coming months. This is an example of private equity houses developing an acquisition strategy to take advantage of the unique opportunities that exist in the current market. We expect to see more transactions of this nature – private equity houses buying into a business with experienced management and a realisable plan for obtaining strong profits.’
Dan Walker of EIS Optics says: ‘The legal advice required for this transaction was extremely broad; ranging from due diligence and regulatory considerations to share and asset purchases and intellectual property agreements, all across a multitude of jurisdictions. The global reach and co-ordination between the various Reed Smith offices has ensured that the transaction process was smooth and the service levels were of a consistently high standard.’
