DLA Piper advises court-appointed receiver in sale of Essai, Inc. to US subsidiary of Advantest Corporation

DLA Piper represented Andrew Hinkelman of FTI Consulting, Inc. as a court-appointed independent receiver in the sale of Essai, Inc., a privately held company that produces semiconductor test equipment, to Advantest America, Inc. for more than US$300 million. Advantest America is a California subsidiary of Advantest Corporation, a Japanese semiconductor testing company.

Essai’s products are highly regarded in the industry, which resulted in multiple bidders for the company. Together with Advantest’s final-test equipment and system-level testers, the combined resources provide enhanced end-to-end test solutions in the form of test cells, including sockets-accuracy issues assurance.

“It was a pleasure to collaborate with Andrew and the other parties to this transaction to resolve the complex issues surrounding the sale of Essai, allowing the company to continue to grow its semiconductor test equipment business with the help of enhanced resources and support,” said Richard Chesley, global co-chair of DLA Piper’s Restructuring practice, who led the firm’s deal team along with partner Melainie Mansfield.

In addition to Chesley and Mansfield (both of Chicago), the DLA Piper team included partners Margaret Keane (San Francisco), Frank Mugabi and Paolo Morante (both of New York); senior counsel Mark Boxer (San Francisco); of counsel Angeline Chen (Washington, DC); and associates Najeh Baharun (Los Angeles), Christopher West (San Diego), Sne Sadhu (Phoenix) and Patrick Burri (Silicon Valley).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according to Mergermarket.