Fangda represented a buyer consortium led by Shanghai Wanye Enterprises, a leading Chinese scientech company, on its approximately US$398 million acquisition of Compart Systems from Platinum Equity. The acquisition is part of Wanye’s strategic objective to push ahead in its semiconductor equipment and integrated circuit businesses. The deal was signed on November 12, 2020 and announced on December 23, 2020.
Singapore-headquartered Compart Systems is a leading global supplier of highly engineered gas delivery system and flow control components and assemblies. It is one of a few global companies with the vertical integration manufacturing capability of highly engineered components. Compart’s primary operations are in the PRC and Malaysia. Platinum Equity is a Los Angeles-based global private equity firm.
The Fangda M&A team was led by partners Norman Zhong, Raymond Chan and Chuck Sun, supported by counsel Frank Ding, associate Joyce Pei, Danny Li and Siyao Li. Fangda advised on legal due diligence, transaction negotiation and documentation, underwriting of insurance aspects, and offshore equity financing, as well as PRC regulations. Fangda coordinated local counsel support, including Allen & Gledhill in Singapore, Rahmat Lim & Partners in Malaysia, and Covington & Burling as the U.S. counsel.