KUALA LUMPUR: Pagani Holding III Ltd has signed a definitive agreement to acquire Singapore-listed electronics manufacturing services provider, PCI Ltd for S$1.33 (S$1 = RM3.03) in cash per share.
Pagani Holding III Ltd is an indirectly wholly-owned subsidiary of investment funds and entities affiliated with and advised by Platinum Equity.
In a statement today, Platinum Equity said the transaction is subject to shareholder and regulatory approval, and is expected to close in the second quarter of 2019.
PCI serves diverse 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,” said Platinum Equity partner, Jacob Kotzubei.
“The company has a clear understanding of its customers’ technology and supply chain needs, and represents a strong platform for continued growth,” he added.
“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,” said PCI chief executive officer, Teo Eng Lin.
“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,” he added.