Simpson Thacher & Bartlett has advised alternative asset management company Blackstone on its proposed investment in Korean actuator and motion control technology provider Futronic.
While financial terms were not disclosed, Reuters said the deal would value Futronic at KRW1 trillion (USD680 million).
Blackstone said the transaction was in partnership with Futronic’s founder, Jinho Ko, who would remain as chairman and CEO, and collaborate with Blackstone to drive Futronic’s global growth and expansion across end markets.
Futronic’s core operations are in South Korea and the US, but Blackstone said the Busan-based company was actively expanding its international footprint.
Simpson Thacher’s cross-border team included six partners – Anthony King, co-head of the firm’s Asia private equity practice, Makiko Harunari, head of the Asia banking and credit practice, Toby Chun, co-head of the environmental practice, Étienne Renaudeau, Mark Skerry and Caroline Geiger.
Futronic specialises in manufacturing high-precision actuators, motion control systems and mechatronics for the automotive and industrial robotics sectors.
