Blackstone is weighing the sale of Interplex’s information, communications, and technology (ICT) unit, according to sources familiar with the matter.
JPMorgan is working as a sell-side advisor for the potential transaction, the sources said. The asset could be valued as much as $1 billion, they added.
Discussions are, however, at an early stage, and the sponsor could decide to keep the asset, the sources said. The development was first reported by Bloomberg.
Blackstone declined to comment. JPMorgan did not immediately respond to a query sent by DealStreetAsia.
Blackstone acquired Singapore-based Interplex from EQT’s BPEA fund for an enterprise value of $1.6 billion in 2022. Interplex designs and manufactures customised interconnect and high-precision mechanical products solutions for the mobility, medical, and datacom markets, according to its website.
Interplex, in partnership with its owner Blackstone, has strategically launched ENNOVI, a standalone mobility electrification business focused on the rapidly growing EV market.
ENNOVI has been created through a reorganisation of Interplex’s core operations to concentrate specifically on designing, developing, and engineering advanced interconnect solutions for battery systems, power platforms, and signal systems used in next-generation electric vehicles, per a release at the time.
Interplex’s ICT business focuses on developing customised peripherals, enclosures, interconnects and thermal-management solutions for applications including networking equipment, servers, disk drives, wearables and mobile devices, according to its website.
