BDA Advises Doosan on Sale of Mecatec to Bumhan and Metistone
Summary
Following the completion of the transaction, Bumhan plans to integrate Mecatec’s technologies (CPE and hydrogen liquefaction) with its existing business (air compressors and hydrogen fuel cells) to achieve synergies for sustainable growth.Howard Lee, Partner and Head of BDA Seoul, said: “We’re pleased to help Doosan take another step toward its higher tech, ESG-oriented future, by finding a good home for Mecatec, an excellent business, which will enjoy strong strategic logic within Bumhan, as well as capital benefits from Metistone. BDA has a good record in the Korean industrial arena, and in helping blue chip Korean chaebols reposition themselves globally.”BDA deal teamHoward Lee, Partner, Head of SeoulVictor Chang, Managing Director, SeoulSangbin Kim, Vice President, SeoulYuhak Kim, Associate, SeoulAbout Doosan MecatecEstablished in 1964, Doosan Mecatec has supplied the total range of CPE (Chemical Process Equipment) including static equipment for oil, gas, and petrochemical plants, such as pressure vessels, reactors and heat exchangers. Bumhan is proactively transforming to become a company that specializes in renewable energy, driving the hydrogen fuel cell business, its future growth engine. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo.