Paul Hastings is acting for Acument Global Technologies – one of the world’s largest producers of engineered mechanical fasteners – on the sale of its Avdel and Global Electronics & Commercial businesses to funds advised by CVC Asia Pacific and Standard Chartered Private Equity Limited (SCPEL).

The businesses acquired will be consolidated into a new brand named Infastech, and will start trading as a new entity with its headquarters in Singapore after the completion of the deal.

The Paul Hastings team on the transactions was led by Robert Miller, partner in the Los Angeles office along with LA associates Meagan Galloway-Scimone and Nasym Korloo. 

Clifford Chance is acting for the acquirers – CVC and SCPEL – as their international counsel, co-ordinating legal advice across multiple jurisdictions.

The CC team is led by partner Andrew Whan and assisted by senior associate Tom Evans and associate Derek Hung. The CC team advising on the financing aspects of the transaction is led by partner Matthew Truman and assisted by associates Andrew Husdan and Ashley McDermott. All are based in Hong Kong. Antitrust and regulatory advice was co-ordinated by CC counsel Ninette Dodoo in Beijing. 

“The leveraged deal involved co-ordinating legal advice across tens of jurisdiction to carve out the businesses from their existing corporate group, the acquisition of significant intellectual property rights, procuring regulatory approvals and implementing various innovative structuring initiatives,” said Andrew Whan, partner who led the team advising CVC and SCPEL.

CC has worked with CVC on a number of PE deals since 2002. Among the deals advised are the Asian Timber Products, Zhuhai Zhongfu, Nien Made, Asia Dekor, Hunh Hing and Sun Hung Kai Financial – and in South East Asia – Magnum Corp, GS Paper and Packaging and Infastech.

Linklaters has been retained as international counsel to the funding banks involved. ALB

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