BDA Advises Laird and Crescendo on Sale of Model Solution to Hankook Tire

New York, NY, May 12, 2018 --(PR.com)-- BDA Partners is pleased to announce that its clients, Laird
PLC (“Laird”) and Crescendo Equity Partners (“Crescendo”), have agreed to divest a total 75% equity
stake in Model Solution Co Ltd, a Korea - and US-based precision prototype manufacturer. The buyer is
Hankook Tire Co Ltd. (“Hankook Tire”), which is based in Seoul, Korea and is the seventh largest tire
company in the world.

Model Solution, with operations in both Seoul and Silicon Valley, designs and manufactures prototypes,
with market leading expertise in precision prototyping, design support, tooling, low volume
manufacturing and 3D printing. It services a wide range of industries, including aerospace, automotive,
consumer, medical and industrial, with a diverse blue chip customer base that includes both global tech
giants and unicorn start-ups.

The total consideration for the stakes being sold is KRW68.6bn (US$63.4m).

Laird will divest its entire 51% stake in Model Solution, while Crescendo will be divesting a 24% stake in
this transaction. Laird and Crescendo acquired their equity stakes in April 2014.

Post-transaction, Crescendo will retain a 25% stake in Model Solution. Crescendo will remain as a
partner to Model Solution and Hankook Tire, assisting the post-merger integration process. Crescendo is
confident that Hankook Tire will enable further expansion of Model Solution's product offering and
customer base in the next stage of growth.

BDA acted as exclusive financial advisor to Laird and Crescendo.

Howard Lee, Managing Director and Head of BDA Seoul, said, “We are happy to have secured an
excellent outcome for both of our clients, to a high quality future controlling shareholder for Model
Solution. BDA has built a good track record of closing complex, cross-border transactions in the
industrial technology space, across Asia and globally, driving high-multiple successful outcomes for all
the relevant stakeholders.”

This divestment has no impact on the process for the acquisition of Laird by Advent International, who
have been informed of the transaction.

BDA Team
Andrew Huntley, Senior Managing Director, London
Howard Lee, Managing Director, Head of Seoul office
Jonathan Aiken, Director, London
Han Kim, Director, Seoul
Hyunhee Jang, Associate, Seoul
Sungho Yang, Associate, Seoul

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About Laird PLC
Laird is a global technology company providing systems, components and solutions that protect
electronics from electromagnetic interference and heat, and that enable connectivity in mission-critical
wireless applications and antennae systems. www.laird-plc.com

About Crescendo Equity Partners

Crescendo Equity Partners is a Korea-based private equity firm focused on blue-chip, mid-cap technology
and manufacturing sector in Asia. Established in 2012, Crescendo is run by investment professionals with
over 30 years of private equity experience. www.crescendoep.com

About BDA
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A and
capital raising. BDA has been consistently owned and managed by the same team since 1996. BDA has a
track record of providing independent advice to blue-chip corporate and financial sponsor clients from
North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai,
Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Seoul, and Tokyo. BDA was named
Investment Bank of the Year 2017 by both The M&A Advisor and ACG New York. BDA formed
partnerships with William Blair & Company in 2011 and Development Bank of Japan in 2017.
www.bdapartners.com

US securities transactions are performed by BDA Partners' affiliate, BDA Advisors Inc, a broker-dealer
registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the
Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and
regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed
and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated
activities to professional investors.

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Contact Information:
BDA Partners
Euan Rellie
212-265-5300
Contact via Email
www.bdapartners.com

Online Version of Press Release:

You can read the online version of this press release at: https://www.pr.com/press-release/753531

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