S&C Advises AcBel Polytech in Deal To Acquire Power Conversion Division of ABBFebruary 1, 2023
On January 20, AcBel Polytech Inc. agreed to acquire ABB Ltd.'s Power Conversion division, ABB Power Conversion, for cash consideration of $505 million (subject to adjustment). The acquisition will allow AcBel to grow its customer base in the United States and strengthen its local service capabilities.
AcBel is one of the global leaders in the manufacture and design of switching power supplies. In addition to offering power solutions for a wide range of applications—including PCs, smart home appliances, smartphones, servers, and networking equipment—AcBel also serves the sustainable energy and electric vehicle industries. ABB Power Conversion is a leading provider of power products, systems and services based in U.S..
The Hong Kong-led S&C team advising AcBel includes Ching-Yang Lin, Joon Seok Hong, Xi Rui and Yiwen Wang and Brian Hamilton in New York. Juan Rodriguez, Benjamin Walker, Christopher Graham, Fabian Uebele and Dominic Connors advised on antitrust matters, and Eric Queen, Bradley Smith and Clea McClellan advised on HSR matters. Mehdi Ansari, Mark Schenkel, Raffaele DeMarco, Philippe Schiff, Yinran Pan and Julia Caffery advised on intellectual property matters. Heather Coleman and Joyce Lee advised on executive compensation matters. Jameson Lloyd, James Patton and Stephen Profeta advised on tax matters. Chris Beatty, John Anselmi and Michelle Vickers advised on financing matters.