HONG KONG, March 17 (Reuters) – Chinese private equity firm DCP Capital aims to sell its Singapore portfolio firm MFS Technologies, which tends to make versatile printed circuit boards, for at least $550 million, two folks with know-how of the matter told Reuters .

The firm, founded by former KKR & Co partners David Liu and Julian Vollhardt, started advertising the sale on Friday and will send confidential information and facts memos subsequent month, one particular of the sources stated.

The sale is mostly aimed at economic sponsors, but also at strategic purchasers, according to two sources and a separate particular person familiar with the transaction.

Initial bids are anticipated in late May possibly, one particular of the sources stated.

BDA Partners and Jefferies are advising DCP on the sale, the sources stated. All the sources declined to be identified mainly because the information and facts is confidential.

DCP Capital and BDA Partners declined to comment. MFS and Jefferies did not promptly respond to a request for comment.

In 2018, the Chinese firm purchased a controlling stake in MFS from Navis Capital Partners and Novo Tellus Capital Partners for an undisclosed quantity.

Founded in 1989, Singapore-primarily based MFS manufactures printed circuit boards with applications focused on the automotive, industrial, health-related and finish-use information storage markets.

It manufactures in China and Malaysia and has sales teams in Germany and Canada, its web site shows.

In 2022, the company’s earnings prior to interest, taxes, depreciation and amortization have been $46 million, one particular of the sources stated.

DCP was founded in 2017 by Liu, who was KKR’s head of Higher China and co-head of its private equity in Asia, and Wohlhardt, KKR’s senior executive in the area, following each worked with US buyout firm 11 year.

DCP raised $two.five billion in its very first fund in 2019, focusing on Chinese investments.

Reporting by Kane Wu in Hong Kong and Yantoultre Ngui in Singapore More reporting by Julie Zhu in Hong Kong Editing by Kenneth Maxwell

Our Requirements: Thomson Reuters Trust Principles.

By Editor

Leave a Reply