Mecaro, a KOSDAQ-listed semiconductor parts manufacturer, decided at a board meeting on the 15th to acquire 100% equity of unlisted semiconductor equipment maker Samil Tech for approximately 35.6 billion won. The acquisition reflects Mecaro's aggressive business expansion driven by strong performance improvements amid the recent semiconductor super-cycle. The company will pay the full acquisition amount on the 31st using existing cash reserves without additional borrowing or equity issuance. Mecaro also plans to invest a total of 14.1 billion won in convertible bonds of Lambda Micro, another unlisted company producing heat treatment equipment for semiconductor and battery manufacturing processes.
Mecaro Acquires Samil Tech for 35.6 Billion Won
Mecaro announced that its board of directors convened on the 15th and resolved to execute a stock purchase agreement for 100% acquisition of Samil Tech Corporation. The total acquisition price is approximately 35.6 billion won, which the company will pay in full on the 31st using retained cash without separate borrowing or new share issuance.
According to the company, "This is a strategic decision for Mecaro to expand adjacent technologies and manufacturing capabilities based on its existing semiconductor parts business. The decision was made not simply to expand equipment lineup, but because we highly value Samil Tech's technical competence in stably and repeatedly manufacturing precision equipment, the trust built with customers over a long period, and its execution capability in flexibly responding to industry-specific requirements."
Mecaro produces metal heater blocks and ceramic components using ceramic materials such as aluminum nitride (AlN), which are essential in semiconductor manufacturing processes.
Samil Tech Produces Semiconductor Manufacturing Equipment
Samil Tech develops and manufactures semiconductor manufacturing equipment and process automation facilities. The company has expanded its production scope to various special-purpose automation systems including semiconductor packaging back-end process equipment, automotive parts assembly equipment, connector assembly equipment, and suture molding equipment for the healthcare sector.
Due to the project-based nature of equipment orders, Samil Tech's annual performance fluctuates significantly, but the company maintains a stable financial structure with cash assets totaling 13.3 billion won.
Mecaro Invests 14.1 Billion Won in Lambda Micro Convertible Bonds
Beyond the Samil Tech acquisition, Mecaro is also preparing investment in another unlisted company, Lambda Micro. Mecaro stated it plans to acquire a total of 14.1 billion won in Lambda Micro convertible bonds (CB), including already executed investments and additional investments scheduled for this year.
Lambda Micro produces heat treatment equipment based on variable frequency microwave (VFM) technology. This equipment is used in semiconductor back-end processes and secondary battery manufacturing processes.
Mecaro Operating Profit Reached 15.3 Billion Won
Mecaro, with a market capitalization in the 300-400 billion won range, can undertake business expansion with substantial cash investment thanks to performance improvements driven by the semiconductor super-cycle. After recording an annual loss in 2023, Mecaro turned profitable in 2024 and saw operating profit increase nearly 300% due to overseas sales growth and won depreciation (exchange rate) effects.
Mecaro's revenue approached 100 billion won and operating profit reached 15.3 billion won. The company counts Samsung Electronics and SK Hynix among its customers, with more than half of revenue generated from China. As of year-end, the company's cash assets exceed 54 billion won.
FAQ
What did Mecaro decide on the 15th?
Mecaro's board of directors decided on the 15th to acquire 100% equity of Samil Tech for approximately 35.6 billion won, with full payment scheduled for the 31st using existing cash reserves.
Why is Mecaro acquiring Samil Tech?
Mecaro stated the acquisition is a strategic decision to expand adjacent technologies and manufacturing capabilities, valuing Samil Tech's technical competence in precision equipment manufacturing, customer trust, and flexible execution capability in responding to industry requirements.
How much is Mecaro investing in Lambda Micro?
Mecaro plans to acquire a total of 14.1 billion won in Lambda Micro convertible bonds, including already executed investments and additional investments scheduled for this year.
