PE Firm Seeking Buyer for Beyonics, Report Says
SINGAPORE -- Is Beyonics on the block? A report from Bloomberg today said the private equity firm that owns the contract electronics manufacturer is weighing its options for a sale, and has engaged Morgan Stanley to seek prospective buyers.
ShawKwei & Partners wants at least 10 times EBITDA for the company, Bloomberg said, The financial news media giant cited people with knowledge of the matter.
ShawKwei acquired Beyonics in 2012 for $115 million and later delisted. It wants $300 million to $400 million for the firm today, Bloomberg reported.
Once a leading supplier of printed circuit assemblies for hard disk drives and related computer peripherals, Beyonics now generates much of its revenue from plastic and metal components for the automotive and medical sectors.
It has plants in Singapore, China, Malaysia and Thailand.
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