Precision Engineer Proposes Acquisition of Interplex Industries
Singapore-based Amtek Engineering Ltd., proposed acquisition of all of the issued and outstanding shares of Interplex Industries, Inc., College Point, N.Y., for a purchase price up to $210 million. The transaction is subject to shareholder and regulatory approvals and would be completed by the merger of Amtek USA Mergerco, Inc., an indirect wholly-owned subsidiary of with and into Interplex.
Interplex designs and manufactures miniature precision-engineered solutions for custom interconnect, electronic packaging and mechanical/electromechanical applications. Interplex boasts one of the most comprehensive sets of application design, precision metal, plastic and assembly solutions and leverages its vertically integrated global resources of stamping, plating, molding and other value-added services to provide turnkey design and manufacturing solutions to customers worldwide.
“We are delighted with Amtek’s acquisition of Interplex,” says Steven Feinstein, president of Interplex. “Interplex has a long and successful track record in servicing blue chip customers with market-leading miniature precision-engineered solutions and application design services, and with Amtek, we believe we will build upon this track record. We are confident this transaction is the right decision for our customers, our staff and our business, and we look forward to working with Amtek on the next phase of Interplex’s growth.”
“We are excited about this new chapter in the growth of Amtek,” says Daniel Yeong Bou Wai, chairman and CEO of Amtek. “We believe that this transaction will not only add to Amtek’s stable of capabilities and geographic coverage, but also bring on board a stellar management team with a proven track record. Interplex’s miniature precision-engineered solutions, blue chip customer base and global footprint are highly complementary to Amtek. I look forward to our management teams working together and believe that the combined skills and knowhow of both teams will only serve to propel Amtek forward to bigger and better things.”