Unitas, Black & Decker Said to Make Infastech Bidding Shortlist
Stock Chart for Stanley Black & Decker Inc (SWK)
Unitas Capital Pte, Stanley Black & Decker Inc. (SWK) and Carlyle Group LP (CG) are among companies that were invited to make second-round bids for Infastech Ltd., a supplier of screws used in Apple (AAPL) Inc.’s iPhone, said three people with knowledge of the matter.
Potential buyers were asked to make binding offers in late July and the company may be valued at $800 million to $850 million in a sale, the people said, asking not to be identified as the process is confidential. Switzerland’s SFS Holding AG, and Nidec Corp. (6594) and Minebea Co. of Japan have also expressed interest in Infastech and were invited to make second-round bids, according to the people.
CVC Capital Partners Ltd. and Standard Chartered Plc (STAN)’s private equity unit are seeking to sell the business in what would be the largest disposal by private equity owners in Asia this year, data compiled by Bloomberg show. The two companies bought the supplier of screws, rivets and bolts in August 2010 from Acument Global Technologies Inc., and renamed it Infastech. The purchase price wasn’t disclosed.
Spokesmen at CVC and Standard Chartered -- along with officials at Stanley Black & Decker, Carlyle, Unitas, SFS, Nidec and Minebea -- declined to comment or weren’t immediately available.
Infastech makes screws used by companies including Research In Motion Ltd. (RIM) and Apple, as well as businesses in the automotive, aerospace, and medical industries. The company has 2,200 employees, according to its website.
Nifco Inc., a Japanese maker of plastic parts for cars, earlier expressed interest in Infastech but dropped out from bidding, one of the people said. Toshiki Yauchi, a spokesman at Nifco, declined to comment.
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