InterChina Partners, the China based leading mid-market investment bank is pleased to announce that it has advised Mycronic on the acquisition of Shenzhen Huan Cheng Xin Precision Manufacture Co., Ltd. (“Shenzhen Huan Cheng Xin”) to expand its portfolio into automated screen printers and pick & place machines in China. The agreement has been signed on 16^th August and the transaction is expected to close in fourth quarter in 2021.

Mycronic is a Swedish high-tech company engaged in the development, manufacture and marketing of production equipment with high precision and flexibility requirements for the electronics industry. Mycronic has been a trusted partner to electronics and display manufacturers worldwide for over 40 years. Headquartered in Sweden, Mycronic has local presence in over 50 countries and provides over 14,000 production systems to more than 3,000 customers globally. Mycronic is listed on Nasdaq Stockholm.

Shenzhen Huan Cheng Xin is a Chinese automated screen printers and pick & place machines manufacturer. Headquarter in Shenzhen, Shenzhen Huan Cheng Xin has accumulated rich technical expertise in screen printers and pick & place areas. Screen printers account for 80% of total sales and pick & place machines account for the remaining 20%. China is the company’s dominating market, accounting for 95% of sales. Company has established long term relationships with local reputable customers in SMT industry and has over 100 employees.

The acquisition is an important addition to Mycronic’s high volume business and will further strengthen Mycronic’s market position in SMT industry in China. Huan Cheng Xin's market and technology position, combined with Mycronic’s 40 years of innovation and global market presence, is highly complementary and synergetic. After acquisition, Huan Cheng Xin's business will be gradually integrated into Mycronic’s Assembly Solutions High Volume division.

” With this acquisition we strengthen and broaden High Volume’s product portfolio and are able to offer a more complete and attractive solution to our customers,” says Ivan Li, Sr VP High Volume at Mycronic.

InterChina’s deal team includes Managing Partner Eduardo Morcillo and Director Delia Zhang.

“We are delighted to have supported Mycronic on this highly strategic transaction, which closely follows our previous work with Mycronic on the acquisition of Axxon and a number of other projects, leading towards the build-up of a fully integrated China-based platform for growth,” said Eduardo Morcillo, Managing Partner at InterChina.

InterChina served as Mycronic’s exclusive advisor and provided comprehensive transaction advice, including full buy side services, target evaluation, negotiation of initial terms, valuation and deal structuring design, due diligence coordination, negotiations of key terms and definitive agreements, overall transaction process management and closing support.