Platinum Equity, a buyout firm founded by American businessman Tom Gores, is weighing exiting its investment in Singapore electronics manufacturing services provider PCI Pte, according to people with knowledge of the matter. The private equity firm is working with financial advisers to gauge interest from potential buyers, said the people, who asked not to be named as the information is private. A deal could value the manufacturing services provider at about $400 million, the people said.
PCI is an electronics manufacturer serving a wide range of industries including the automotive, industrial equipment, commercial, consumer and medical sectors. In June the company won a contract from the Singaporean government to manufacture a batch of wearable contact tracing devices, to aid in stopping the spread of Covid-19.
Platinum Equity took PCI private in 2019 after buying the company from Chuan Hup Holdings Ltd. and other public shareholders, according to the firm’s website. The U.S. buyout firm, founded in 1995, has more than $23 billion of assets under management and a portfolio of about 40 companies, its website shows.
Source: BNN Bloomberg
By Elffie Chew and Yantoultra Ngui
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.