Japanese private equity firm Unison Capital has launched a tender offer to buy KRW119.8bn ($104m) worth of shares in KOSDAQ-listed BMS product maker Nexcon Technology.
The firm, through its Unison Capital Partners III fund, has offered to buy 7,262,431 of common shares in Nexcon as part of a management buyout of the company’s current largest shareholder and management team.
Nexcon makes BMS (Battery Management System) products for lithium-ion secondary batteries widely used in consumer products such as laptop computers and mobile phones.
It was the first company in Korea to execute mass production of lithium-ion battery BMS, and today operates through production facilities in Cheonan, Korea, as well as in Nanjing and Tianjin.
Unison said it will support Nexcon’s expansion, notably in Asia, by offering its expertise in the Japanese market and managerial resources.
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