Laird acquires majority stake in private equity-backed Model Solution


korea dragon stoneBritish electronics and technology group Laird has agreed to buy a majority stake in Korean prototype design company Model Solution in a consortium with private equity firm Skylake in a £40.4m deal.

Laird will acquire 51 per cent of the company in a £40.4m deal, while private euqity firms Kamur and Skylake will own 49 per cent.

Model Solution, which is based in Seoul, designs and manufactures prototypes with expertise in injection moulding, finishing, UV coating and 3D printing.

Last year the company posted an operating profit of KRW5.6bn (£3.3m) on revenues of KRW31.4bn (£18.4m).

South Korea is currently taking steps to relax regulations that restrict M&A activity, making is easier for investors such as private equity firms to invest in the country.

Regulation will be eased at the fund creation and investment, management and sale stages of the M&A cycle, said Deputy Prime Minister Hyun Oh-seok.

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