Northstar bids for Innovalues

The private-equity firm joins a trend of targeting Asian precision manufacturers servicing the transport sector.

Northstar bids for Innovalues

Northstar Equity Partners intends to acquire Singaporean precision-parts maker Innovalues Limited for $239 million.

Private-equity managers have been bidding for high-end manufacturers throughout Asia, driving up valuations.

One analyst at Maybank Kim Eng, issuing a report, said Northstar has achieved fair value’ for its Innovalues offer of S$1.01 per share.

Innovalues shareholders are also being offered the option to take S$0.61 per...

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