Mills & Reeve advises Taiwanese electronics giant on acquisition of Bradford firm Calibre UKThe corporate team at the Leeds office of Mills & Reeve has advised Taiwanese company Coretronic Corporation on the ... Read More
The corporate team at the Leeds office of Mills & Reeve has advised Taiwanese company Coretronic Corporation on the acquisition of Calibre UK, a Bradford-based electronic display equipment manufacturer.
Calibre manufactures electronic display equipment including flat panel displays, image processing products and specialist scalers. The company also provides image scaling and processing technologies for use in digital cinemas, large venue projection, surgical medical applications and television studios.
Coretronic Corporation, which is listed on the Taipei Exchange (TPEx), employs more than 17,000 people worldwide and had annual sales of $1.8 billion in 2016.
SY Chen, the president of Coretronic, said that the sale reflected Coretronic’s strategy to strengthen its leading position in display and image processing technology thanks to the “rich set of capabilities” afforded by the Calibre team.
“This will help Coretronic Group with its plans to further advance in the pro-av markets as well as assisting with entry into the rapidly expanding direct-view LED display markets,” said Chen.
Shubhu Patil, principal associate in the corporate team at Mills & Reeve that advised Coretronic Corporation, said: “We are delighted to advise on this acquisition. Calibre has firmly established itself as a UK leader in the electronic display equipment market and its products and innovative technology will be an excellent fit within Coretronic Corporation.
“The deal represents one of a number of new client wins in the technology sector for the Leeds office of Mills & Reeve, reflecting the firm’s national reputation as the go-to firm for technology businesses.”
The sale will see Finance Yorkshire, which invested in Calibre in January 2016, exit the company.
A team from Yorkshire accountancy firm Garbutt + Elliott, led by partner Tariq Javaid, provided lead advisory and due diligence for the acquisition of Calibre. Gordons provided legal advice to the shareholders of Calibre. Walker Morris advised Finance Yorkshire.