A cross-border King & Spalding CFI team has represented France-based SERMA Group on its acquisition of US-based Microtech Laboratories. SERMA is a consultancy and expertise company controlled by European private equity investment firms, Chequers Capital and Ardian, in combination with its founding management team. SERMA is specialized in embedded and industrial electronic systems, as well as information system security. Its sole model is to rely on teams of experienced experts, in-house laboratories and design offices, making it the independent European leader in its field. Microtech is a Texas-based provider of contract services in the microelectronics industry for failure analysis, component analysis, and PCBA analysis. This is SERMA’s first US investment and is expected to be followed by additional U.S. acquisitions in the future.
The King & Spalding M&A team advising SERMA on the transaction was led by CFI partners Laurent Bensaid in Paris and Michelle Stewart in Atlanta and included associates Umbar Malik (Atlanta), Julien Vicariot (Paris) and Sangita Sahasranaman (Atlanta). Tax advice was provided by partner John Sweet (New York), partner Philip Ludvigson and associate Adam Harper (both Washington DC) worked on CFIUS aspects, partner Amanda Sonneborn (Chicago) and associate Matthew Krimski (New York) advised on labor and employment law, partner Jake Downing and senior associate Jessica Stricklin (both Chicago) handled employee benefits and partner Scott Petty and senior attorney Laura Huffman (both Atlanta) led on Intellectual Property.