Hankook Tire recently announced that they will acquire 75% stakes of ‘Model Solution Ltd.’, an advanced digital prototype solution company, for KRW68.6 billion.
Hankook Tire will incorporate Model Solution into its affiliate by acquiring 75% total of its shares including a 51% stake on ‘Laird,’ a UK electronics company, and a 24% stake on Crescendo Equity Partners, a global private equity firm.
Model Solution, established in 1993, is a company that designs and manufacturers prototypes and molds of new products grafted to cutting-edge technological prowess such as electronic products and medical devices including the state-of the-art IT equipment and, beginning with the prototype solution service in 2007, now has about 420 global clients.
In particular, Model Solutions has cutting-edge technological prowess that can provide services ranging from design to prototype manufacturing, including the best design and execution power in the industry. Based on various attempts at high-tech technology such as 3D printing, the company is also leading the technological expertise of the prototype industry.
This time, the acquisition was carried over as part of strengthening investments in future promising technologies and securing next-generation growth engines through the M&A of the company with state-ofthe- art technology based on connectivity with high technology that Hankook Tire is aiming for.
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