We advised Cornell Capital and Lorom on the transaction

Davis Polk advised Cornell Capital LLC and Lorom Holding Co., Ltd. on Lorom’s merger with In-Tech Holdings (Cayman) Limited. In October 2019, Lorom partnered with Cornell Capital to accelerate Lorom’s continued growth across Asia, Europe and North America and further strengthen its financial performance. Financial terms of the transaction were not disclosed.

Cornell Capital is a U.S.-based private investment firm with approximately $6 billion of assets under management and offices in New York and Hong Kong. Leveraging decades of global investment experience, Cornell takes a disciplined approach to investing across the consumer, financial services and industrials/business services sectors, often in companies that can benefit from the firm’s Asia presence and cross-border expertise.

Founded in 1988, Lorom is a leading manufacturing solutions provider focusing on specialized cable manufacturing and assembly. In addition to its core cable technologies, Lorom offers plastic injection molding, stamping, die-casting, printed circuit board assembly and tooling processes. Headquartered in Taipei, Taiwan, Lorom has approximately 4,000 employees, including more than 500 highly skilled engineers across four factories and four sales offices globally.

Founded in 1997, In-Tech is a Hong Kong-based electronic manufacturing and development services company, specializing in supplying demanding industries including automotive, medical, aerospace, marine, banking and wireless communications networks. In-Tech also develops tailored industrial-grade IoT devices. In-Tech offers turnkey solutions for new projects, as well as supplying electronic assemblies and completed products.

The Davis Polk corporate team included partner Miranda So, counsel Xi Shi and associates Jason Shen and Duo (Vera) Xu. The sponsor finance team included partners Gerhard Radtke, Nick Benham, counsel Bingqing Pan and Aaron Ferner and associate Xin (Sheen) Xu. Adam Kaminsky provided executive compensation advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.

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