Financing of Advent International’s USD 1.3 billion public-to-private acquisition of u-blox Holding AG

Work highlight

07-01-2026

Our Luxembourg Banking & Finance and Tax teams advised the lenders on the take-private debt financing supporting Advent International’s acquisition of u-blox Holding AG (u-blox), a global leader in critical connectivity and positioning technologies. The acquisition was executed through ZI Zenith S.à r.l., the European direct subsidiary of funds managed and/or advised by Advent International, L.P. (Advent) and was implemented by way of a public tender offer.

Under Advent’s ownership, the company aims to strengthen its market position, accelerate growth and address rising demand across automotive, industrial and adjacent segments. The transaction underscores both the strategic importance of advanced connectivity technologies and the continued confidence of investors in technology-driven assets. The offer price of CHF 135 per share in cash values u‑blox’s equity at approximately CHF 1,050 million (approximately USD 1.3 billion) on a fully diluted basis. With Advent now holding more than 98% of the shares, the delisting of u‑blox shares will proceed in accordance with applicable regulations.

The completion of this financing transaction marks the start of a long-term partnership between Advent and u‑blox.

u-blox is a Swiss semiconductor company specialising in positioning and wireless communication technologies, trusted by customers worldwide for high-precision connectivity solutions.

Advent International is a leading global private equity investor with a strong track record of partnering with growth-oriented companies across multiple industries and geographies.