© stevanovicigor dreamstime.com Electronics Production | January 10, 2019
Platinum Equity to acquire Singapore based PCI Limited
Investment firm, Platinum Equity, says that Pagani Holding III Limited, an indirectly wholly-owned subsidiary of investment funds and entities affiliated with and advised by Platinum Equity, has signed a definitive agreement to acquire Singaporean EMS provider, PCI Limited.
Pagani Holding will pay SGD 1.33 (EUR 0.85) in cash per share; the transaction is subject to shareholder and regulatory approval and is expected to close in 2Q 2019. PCI is a provider of design, manufacturing, testing, and supply chain services. The business serves several end-markets, including the automotive, industrial equipment, commercial, consumer/lifestyle, and medical segments. “PCI has been delivering manufacturing solutions to blue-chip customers for more than 40 years,” says Platinum Equity Partner Jacob Kotzubei, in a press release detailing the deal. “The company has a clear understanding of its customers’ technology and supply chain needs, and represents a strong platform for continued growth.” According to PCI CEO, Teo Eng Lin, the take-private transaction is the right move for the company and its stakeholders. “We built this business on a commitment to helping our customers improve their time to market at the right price and performance points, with the highest possible quality standards,” says Mr. Teo. “Platinum Equity believes in that mission and will provide the financial and operational resources we need to further expand and improve our business. This is exciting news for our company and our customers.”