{"id":540775,"date":"2021-09-21T20:48:59","date_gmt":"2021-09-22T00:48:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/"},"modified":"2021-09-21T20:48:59","modified_gmt":"2021-09-22T00:48:59","slug":"platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/","title":{"rendered":"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LOS ANGELES<\/span>, <span class=\"xn-chron\">Sept. 21, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited (&#8220;PCI&#8221;), an electronics manufacturing services provider based in <span class=\"xn-location\">Singapore<\/span>, to Celestica Inc. (TSX: CLS) (NYSE: CLS), headquartered in <span class=\"xn-location\">Toronto<\/span>, a leader in design, manufacturing and supply chain solutions for the world&#8217;s most innovative companies, for <span class=\"xn-money\">$306 million<\/span> in cash. The sale is expected to close in mid-fourth quarter of 2021, subject to regulatory approval and customary closing conditions.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1631282\/PCI_Limited.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1631282\/PCI_Limited.jpg\" title=\"Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited, an electronics manufacturing services provider based in Singapore.\" alt=\"Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited, an electronics manufacturing services provider based in Singapore.\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>PCI is a fully integrated design, engineering and manufacturing solutions provider with six manufacturing and design facilities across <span class=\"xn-location\">Asia<\/span>. The business serves diverse end-markets, including the automotive, industrial equipment, commercial, consumer\/lifestyle, and medical segments.\u00a0<\/p>\n<p>Platinum Equity, a <span class=\"xn-location\">Los Angeles<\/span>-based global private equity firm focused on acquiring businesses that can benefit from the firm&#8217;s operational expertise, acquired PCI in <span class=\"xn-chron\">April 2019<\/span> in a public-to-private transaction. The PCI investment was led by Platinum Equity&#8217;s <span class=\"xn-location\">Singapore<\/span> office.<\/p>\n<p>&#8220;We have committed substantial financial, M&amp;A and operational resources to our investment strategy in <span class=\"xn-location\">Asia<\/span> and PCI&#8217;s success is yet another example of how we are creating value in the region,&#8221; said <span class=\"xn-person\">Jacob Kotzubei<\/span>, the partner in Platinum Equity&#8217;s <span class=\"xn-location\">Los Angeles<\/span> headquarters who oversees the firm&#8217;s <span class=\"xn-location\">Singapore<\/span>-based team. &#8220;We have deep experience transacting in <span class=\"xn-location\">Asia<\/span> and a dedicated team on the ground that has real momentum.&#8221;<\/p>\n<p>The PCI sale will mark Platinum Equity&#8217;s second divestiture in <span class=\"xn-location\">Singapore<\/span> in the past year, having <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=75990612&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Fnews%2Fnews-articles%2F2020%2Fplatinum-equity-sells-compart-systems-to-shanghai&amp;a=sold+Singapore-based+Compart+Systems\" rel=\"nofollow noopener\">sold <span class=\"xn-location\">Singapore<\/span>-based Compart Systems<\/a> to Shanghai Wayne Enterprises in <span class=\"xn-chron\">December 2020<\/span>.<\/p>\n<p>&#8220;By partnering with PCI&#8217;s leadership team, we accelerated the company&#8217;s transformation into a technology-driven enterprise that is integral to its customers&#8217; product development and supply chain ecosystems,&#8221; said <span class=\"xn-person\">Soo Jin Goh<\/span>, Managing Director at Platinum Equity and head of the firm&#8217;s <span class=\"xn-location\">Singapore<\/span>-based investment team.\u00a0&#8220;We invested in people and systems, transformed the company&#8217;s sales organization and go-to-market approach to accelerate growth, and initiated &#8216;smart factory&#8217; automation projects to increase efficiencies and create operating leverage as the company continues to scale.&#8221;<\/p>\n<p>Since Platinum Equity&#8217;s acquisition of PCI, the company grew annual revenue by more than 40% and substantially improved its profitability. PCI also doubled its pace of customer acquisition during that time, with an emphasis on meeting the increased demand for connected products and devices. This resulted in a <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=3932662219&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Fportfolio-at-work%3Farticle%3Dhow-pci-brought-needed-tech-solution-to-market-in-singapore-s-covid-19-fight&amp;a=substantial+contract+win+in+June+2021\" rel=\"nofollow noopener\">substantial contract win in <span class=\"xn-chron\">June 2021<\/span><\/a> to manufacture a wearable contact tracing device as part of the <span class=\"xn-location\">Singapore<\/span> government&#8217;s efforts to stop the spread of Covid-19. <\/p>\n<p>&#8220;Under Platinum Equity&#8217;s ownership, we have accelerated our transformation on many fronts, investing in machinery and system upgrades, adding new talent to our organization, and setting the stage for a new period of growth and expansion,&#8221; said PCI CEO EL Teo. &#8220;Celestica is an industry leader, and the ideal home for our business going forward. We are excited to leverage Celestica&#8217;s global footprint and significant resources to rapidly expand our business and introduce our solutions to more customers around the world.&#8221;<\/p>\n<p>&#8220;The acquisition of PCI will enable us to build on our transformation initiatives and expand our portfolio with innovative capabilities in key growth markets,&#8221; said <span class=\"xn-person\">Rob Mionis<\/span>, President and CEO, Celestica. &#8220;PCI has built one of the premier teams in the industry and a differentiated set of capabilities that make them a true value-added partner to their customers. By combining our portfolios and innovation platforms, we will be able to capitalize on emerging industry trends and strengthen our offerings to customers in order to generate significant value for all Celestica shareholders.&#8221;<\/p>\n<p>Lincoln International is serving as financial advisor to Platinum Equity on the sale of PCI. BDA Partners is providing advisory services to Platinum Equity in Asia.\u00a0Duane Morris is serving as Platinum Equity&#8217;s legal advisor on the transaction.<\/p>\n<p>\n        <b><br \/>\n          <u>About Platinum Equity<br \/><\/u><br \/>\n        <\/b>Founded in 1995 by <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=1753270216&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Fleadership%2Ftom-gores&amp;a=Tom+Gores\" rel=\"nofollow noopener\"><span class=\"xn-person\">Tom Gores<\/span><\/a>, Platinum Equity is a global investment firm with more than <span class=\"xn-money\">$25 billion<\/span> of assets under management and a <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=1648367451&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Fportfolio&amp;a=portfolio\" rel=\"nofollow noopener\">portfolio<\/a> of approximately 50 operating companies that serve customers around the world. The firm is currently investing from\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=2288757112&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Ffundv%3Futm_source%3Dhomepage%26utm_medium%3Dfeatur%26utm_campaign%3Dmachine&amp;a=Platinum+Equity+Capital+Partners+V\" rel=\"nofollow noopener\">Platinum Equity Capital Partners V<\/a>, a <span class=\"xn-money\">$10 billion<\/span> global buyout fund, and\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298264-1&amp;h=2705545032&amp;u=https%3A%2F%2Fwww.platinumequity.com%2Fthe-firm%2Fsmall-cap&amp;a=Platinum+Equity+Small+Cap+Fund\" rel=\"nofollow noopener\">Platinum Equity Small Cap Fund<\/a>, a <span class=\"xn-money\">$1.5 billion<\/span> buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations \u2013 a trademarked strategy it calls M&amp;A&amp;O<sup>\u00ae<\/sup> \u2013 acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 300 acquisitions.<\/p>\n<p>\n        <b><br \/>\n          <u>Cautionary Note Regarding Forward-Looking Statements<br \/><\/u><br \/>\n        <\/b>To the extent that this press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws, please refer to Celestica&#8217;s press release from today at &#8220;Cautionary Note Regarding Forward-Looking Statements&#8221; for identification and discussion of the material underlying assumptions and material risks associated with, as well as further information concerning, such forward-looking statements and information.\u00a0 Such press release may be accessed under Celestica&#8217;s profile at sec.gov and sedar.com or on Celestica&#8217;s web site at celestica.com.&#8221;<\/p>\n<p>\n        <b>Contacts:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Dan Whelan<\/span>, Platinum Equity<br \/>(310) 282-9202<br \/><a target=\"_blank\" href=\"mailto:dwhelan@platinumequity.com\" rel=\"nofollow noopener\">dwhelan@platinumequity.com<\/a><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1557720\/Platinum_Equity_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1557720\/Platinum_Equity_Logo.jpg\" title=\"Platinum Equity Logo (PRNewsfoto\/Platinum Equity)\" alt=\"Platinum Equity Logo (PRNewsfoto\/Platinum Equity)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY14535&amp;sd=2021-09-21\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica-301382165.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica-301382165.html<\/a><\/p>\n<p>SOURCE  Platinum Equity<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY14535&amp;Transmission_Id=202109212045PR_NEWS_USPR_____NY14535&amp;DateId=20210921\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire LOS ANGELES, Sept. 21, 2021 \/PRNewswire\/ &#8212;\u00a0Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited (&#8220;PCI&#8221;), an electronics manufacturing services provider based in Singapore, to Celestica Inc. (TSX: CLS) (NYSE: CLS), headquartered in Toronto, a leader in design, manufacturing and supply chain solutions for the world&#8217;s most innovative companies, for $306 million in cash. The sale is expected to close in mid-fourth quarter of 2021, subject to regulatory approval and customary closing conditions. PCI is a fully integrated design, engineering and manufacturing solutions provider with six manufacturing and design facilities across Asia. The business serves diverse end-markets, including the automotive, industrial equipment, commercial, consumer\/lifestyle, and medical segments.\u00a0 Platinum Equity, a Los Angeles-based global &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-540775","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LOS ANGELES, Sept. 21, 2021 \/PRNewswire\/ &#8212;\u00a0Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited (&#8220;PCI&#8221;), an electronics manufacturing services provider based in Singapore, to Celestica Inc. (TSX: CLS) (NYSE: CLS), headquartered in Toronto, a leader in design, manufacturing and supply chain solutions for the world&#8217;s most innovative companies, for $306 million in cash. The sale is expected to close in mid-fourth quarter of 2021, subject to regulatory approval and customary closing conditions. PCI is a fully integrated design, engineering and manufacturing solutions provider with six manufacturing and design facilities across Asia. The business serves diverse end-markets, including the automotive, industrial equipment, commercial, consumer\/lifestyle, and medical segments.\u00a0 Platinum Equity, a Los Angeles-based global &hellip; Continue reading &quot;Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-22T00:48:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1631282\/PCI_Limited.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica\",\"datePublished\":\"2021-09-22T00:48:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/\"},\"wordCount\":889,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1631282\\\/PCI_Limited.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\\\/\",\"name\":\"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/","og_locale":"en_US","og_type":"article","og_title":"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica - Market Newsdesk","og_description":"PR Newswire LOS ANGELES, Sept. 21, 2021 \/PRNewswire\/ &#8212;\u00a0Platinum Equity announced today the signing of a definitive agreement to sell PCI Limited (&#8220;PCI&#8221;), an electronics manufacturing services provider based in Singapore, to Celestica Inc. (TSX: CLS) (NYSE: CLS), headquartered in Toronto, a leader in design, manufacturing and supply chain solutions for the world&#8217;s most innovative companies, for $306 million in cash. The sale is expected to close in mid-fourth quarter of 2021, subject to regulatory approval and customary closing conditions. PCI is a fully integrated design, engineering and manufacturing solutions provider with six manufacturing and design facilities across Asia. The business serves diverse end-markets, including the automotive, industrial equipment, commercial, consumer\/lifestyle, and medical segments.\u00a0 Platinum Equity, a Los Angeles-based global &hellip; Continue reading \"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-22T00:48:59+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1631282\/PCI_Limited.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica","datePublished":"2021-09-22T00:48:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/"},"wordCount":889,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1631282\/PCI_Limited.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/platinum-equity-announces-sale-of-singapore-based-electronics-manufacturing-services-provider-pci-to-celestica\/","name":"Platinum Equity Announces Sale Of Singapore-Based Electronics Manufacturing Services Provider PCI To Celestica - 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