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Blackstone bags electric vehicle connector specialist Interplex from Baring PE Asia

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Global buyout giant Blackstone has bought Interplex, a specialist in customized connector solutions for the auto, medical and ICT markets, from Baring Private Equity Asia.

The sale comes just over six years after BPEA offered S$450m ($320m) to buy Singapore-based Interplex from CVC Capital Partners and Standard Chartered’s private equity arm.

No deal price was given by Blackstone, although reports from last year suggesting the buyout could be close used a $1bn-plus figure.

Blackstone said Interplex was a key industry leader in future mobility power and signal connector technology, working closely with electric vehicle customers to develop proprietary solutions for EV powertrains, battery systems, autonomous driving, and other vehicle electrification applications.

It added that the company had also positioned itself for other high-growth connector and high precision products in markets such as smart medical devices, life sciences, and ICT.

Ed Huang, COO of Asia private equity for Blackstone, said, “Interplex is a global leader in developing innovative interconnect solutions targeting key markets that we believe have attractive growth prospects – markets such as EVs and future mobility, healthcare, and digital infrastructure.

“This investment reflects Blackstone’s continued global focus on investing in leading companies that are well positioned in what we refer to as good neighborhoods. We are very pleased to partner with a world-class management team and look forward to supporting Interplex on its next phase of growth.”

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