7/11/2012
NEWS BRIEFS
Infastech Deal Valued at $750 Million
Ontario Teachers’ Pension Fund and private equity fund Unitas Capital have partnered for a potential joint bid for Singapore-based Infastech Ltd., Reuters reports.
The deal is estimated to be worth more than $750 million, according to Reuters.
In 2010 Unitas was among three private equity bidders for the Infastech assets, known at that time as Acument Global Technologies.
Stanley Black & Decker is another potential bidder for Infastech, a Singapore-based industrial fastener manufacturer with revenues of more than $500 million.
Infastech owners CVC Capital Partners and Standard Chartered’s private equity arm reportedly have hired Bank of America and Goldman Sachs to sell the business. CVC acquired Infastech in 2010 for about $350 million-$400 million.
Infastech employs 2,200 workers to supply fasteners to the electronics, automotive, construction and aerospace sectors. Infastech has operations, sales, distribution and engineering capabilities in Australia, China, Hong Kong, India, Japan, Malaysia, North & South America, Singapore, South Korea, Taiwan, Thailand, United Kingdom and throughout Europe.
Infastech’s corporate headquarters are located in Hong Kong with global operations managed from Singapore. Web: infastech.com
Infastech was formed in August 2010 when Asia Trading Company Ltd. purchased the Avdel and Global Electronics & Commercial divisions of Acument for an estimated $350 million. ©2012 GlobalFastenerNews.com
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