20 January 2022
BPEA Sells Singapore-Based Customized Technology Solutions Provider Interplex to Blackstone for $1.6 billion
Sale concludes multi-year transformation following BPEA-led privatization from the Singapore Exchange in 2016
20 January 2022, Singapore – Baring Private Equity Asia today announced that its affiliated private equity funds (“BPEA”) have sold Interplex, a global vertically integrated customized technology solutions provider, to private equity funds managed by Blackstone for a total enterprise value of $1.6 billion.
Interplex provides a wide variety of customized connector, high-precision, and mechanical solutions focused on driving innovation in automotive electrification, autonomous driving, medical & life sciences, and digitalization. The company serves a global customer base, which includes leading-edge technology and electric vehicle (EV) companies, with approximately 13,000 employees across more than 30 locations and 10 R&D sites globally.
BPEA privatized Interplex from the Singapore Exchange (SGX) in 2016. Since its investment, BPEA has supported management in increasing R&D development globally and strengthening the company’s focus on the design and manufacture of customized connectors and other high precision offerings. During this time, significant progress has been achieved in increasing investment, streamlining operations, and repositioning the company to support customers’ growing requirements for integrated solutions. Today, Interplex generates the majority of its revenues from its new higher-margin business lines, led by fast-growing technology and EV clients. During BPEA’s ownership, Interplex also implemented ESG best practices focusing on the company’s environmental footprint and governance systems to become an ESG leader in its sector.
Hong Yong Leong, Managing Director at BPEA, commented: “We are proud to have supported Interplex’s transformation over the past five years. We saw a lot of potential in Interplex’s capabilities and embarked on a long-term strategic plan alongside management to re-orientate the business towards secular megatrends such as technology, data, and electric mobility. The company’s current top-tier client base, consisting of leading global EV manufacturers, data communication providers, and medical device companies, is a testament to the hard work of the management team in executing that vision. They were also instrumental in creating a highly sustainable business with strong customer-centricity, innovation capabilities, product quality, and ESG ethos. We would like to thank them for their immense contributions, and we believe the business is in good hands for the future.”
Goldman Sachs acted as exclusive financial advisor to Baring Private Equity Asia on the transaction.
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About Baring Private Equity Asia
Baring Private Equity Asia (BPEA) is one of Asia’s largest private alternative investment firms, with assets under management of $37 billion. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 25-year history and over 220 employees located across 10 offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore, Shanghai, Sydney, and Tokyo.
BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The Firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance.
For more information, please visit www.bpeasia.com.
Interplex is a key industry leader in future mobility power and signal connector technology, working closely with electric vehicle (EV) customers to develop proprietary solutions for EV powertrains, battery systems, autonomous driving, and other vehicle electrification applications. The company has also actively positioned itself for other high growth connector and high precision products in markets such as smart medical devices, life science and ICT. Interplex will continue to support our customers in providing solutions for their increasing complex product development roadmap.
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