Platinum Equity buys two business units of Broadway Industrial Group

The global private equity firm Platinum Equity has signed a definitive agreement to acquire the foam plastic solutions (FPS) and flow control devices (FCD) businesses of Singapore-based Broadway Industrial Group Limited for $ 111 million.

FPS is a leading supplier of protective packaging, insulation and component products to the consumer electronics, automotive, medical and other end-markets. FCD supplies high-performance parts such as valves, fittings, sensors, and related components used in diverse end-applications.

According to Jacob Kotzubei, the partner in Platinum Equity’s Los Angeles headquarters who oversees the Singapore-based team, said this type of transaction is a perfect fit for Platinum Equity’s approach. “We have 20 years of experience providing divestiture solutions to corporate sellers and establishing thriving standalone businesses, We also have substantial financial and operational resources in Asia and a strong and growing track record of creating value in the region,” he added.