Key Takeaways
- Keistone Partners acquired SSP for KRW400 billion (USD278 million) from LX Investment.
- This buyout marks LX Investment’s largest-ever transaction and successful exit.
- SSP specializes in semiconductor packaging, particularly ball mounters for chips.
Significant Acquisition in the Semiconductor Sector
Shin & Kim and Yulchon provided legal counsel for Keistone Partners’ acquisition of SSP, a semiconductor packaging and equipment manufacturer, for KRW400 billion (USD278 million). This transaction represents LX Investment’s largest buyout and marks a successful exit for the firm.
Hae Sung Jeong, the lead partner on the transaction team from Shin & Kim, emphasized the significance of this deal for LX Investment. Jeong noted that the firm has a long-standing relationship with LX Investment, having previously represented them in the acquisition of SSP in 2023. For the recent transaction, Jeong was responsible for all legal processes including the memorandum of understanding, the share purchase agreement, the legal review, and the closing of the deal. Senior associate Dong Il Shin also contributed to the legal proceedings.
SSP is noted for its role in the semiconductor industry, primarily focusing on the production of ball mounters. These devices are crucial in the packaging process where they accurately place solder balls onto chip or substrate pads. According to financial reports, SSP’s annual revenue is projected to reach KRW56.6 billion by 2025, showcasing the company’s growth potential in a competitive market.
The collaboration between Keistone Partners, Shin & Kim, and Yulchon signifies the robust legal and advisory framework backing this significant acquisition, emphasizing the growing interest in the semiconductor sector amidst increasing global demand for advanced technology solutions.
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