Precision Solutions, a subsidiary of Singapore-based private equity firm Northstar, has acquired precision machined parts maker Innovalues in a takeover deal worth $237m. The acquisition is the latest move by Precision Solutions to expand into new markets and boost its presence in Asia as it seeks to grow sales beyond North America. The move follows Northstar's earlier bid for component manufacturer Spindex, which was dropped.
Precision Solutions, a subsidiary of Singapore-based private equity firm Northstar, has acquired precision machined parts maker Innovalues in a takeover deal worth $237m. Following the acquisition, Innovalues was delisted from the Singapore stock exchange. The move follows Northstar's earlier bid for component manufacturer Spindex, which was dropped.