US private equity firm KKR is preparing to take Singapore engineering company MMI Holdings public in a listing that could raise up to SGD1bn ($786m), according to Reuters.
The firm has hired Deutsche Bank, Macquarie and UBS to manage the sale for the company, which KKR acquired in 2007 for SGD1.01bn.
Founded in 1989, MMI is a precision engineering components company offering turnkey manufacturing solutions, with a specialism in mechanical manufacturing technology, precision machining, assembly, testing and industrial automation.
The company posted a 22 per cent compound annual growth rate for the ten years it was last listed on the Singapore Stock Exchange, until its acquisition by KKR.
The Singapore bourse has been attracting an increasing amount of attention as an exit destination for private equity-backed companies. UK firm BC Partners is seeking to list gym chain Fitness First, despite over a quarter of the company’s clubs being located in the UK.
Copyright © 2011 AltAssets