Hicks, Muse, Tate & Furst Inc. earlier this month acquired an add-on to its printed circuit board platform that gives the Texas buyout firm control of two plants in China.
The platform-Viasystems Group-bought a division of Termbray Industries International (Holdings) Ltd. for $325 million. Approximately $200 million of the transaction was made with Viasystems common stock and the remainder was in the form of bank debt, according to a statement from Hicks Muse.
In making an acquisition in Asia, Hicks Muse joins groups such as Newbridge Capital Group, H&Q Asia Pacific and HSBC Private Equity Management, which also have operations in the region. Hicks Muse, though, has no fund specifically targeting the Far East.
The acquisition will allow Viasystems, with headquarters in St. Louis and branches around the world, to better supply its customers with operations in China, most of which are major telecommunications companies such as Lucent Technologies and Motorola Inc., according to Charles Shrader, a senior vice president for corporate strategy at Viasystems.
The new acquisition will represent approximately 15% of Viasystem’s business, which generates annual revenue of approximately $1.3 billion, Shrader said.