KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has acquired a controlling stake in local turnkey and component manufacturer Flexi Versa Group Sdn Bhd (FVG) based on an enterprise value (EV) of approximately RM330 million, marking the government-linked private equity fund’s first foray into the electronic manufacturing services (EMS) industry.

In a press release yesterday, Ekuinas did not reveal the percentage of shareholding it acquired nor the amount it paid for the FVG stake.

Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said in the statement that FVG’s solid fundamentals and market potential were in line with Ekuinas’ investment strategy to identify strong and high-potential Malaysian companies with the desire to grow and expand regionally.

“Its (FVG’s) financial track record and operational capabilities, specifically in its ability to integrate different entities and formulate its strategy, underpin its strong position with a revenue of approximately RM300 million and will serve as a basis for growth locally and within the region,” he said.

Photo Credit: TheEdgeMarkets

Published: April 17, 2018

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