01 December 2010
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Avdel and GEC acquired by private equity group

In August this year the sale of Acument Global Technologies' Avdel® and Global Electronics & Commercial ("GEC") businesses was completed and a new entity named Infastech was formed.

Infastech™ is a multinational company "that delivers innovative fastening technologies though a global network of engineering, sales & distribution, operations and strategic distribution partners" says the company. It is owned jointly through funds managed by CVC Asia Pacific Limited (CVC) and Standard Chartered Private Equity Limited (SCPEL) with ownership headquarters located in Hong Kong. CVC and SCPEL total combined revenues are stated to exceed USD 40 billion.

Infastech's global headquarters is located in Singapore and is said to have revenues exceeding USD 430 million, (presumably per annum: this wasn't made clear in the release received here). Infastech says it is one of the world's largest producers of engineered mechanical fasteners, with an industry heritage dating back to 1922 and built around its lead brands of Avdel®, Elco® and iForm™ products. "As an industry leader, Infastech offers innovative fastening technologies to a diverse customer and market base including electronics, automotive, construction and industrial & commercial segments" stated a company spokesman.

Infastech has establishments in Australia, China, Hong Kong, India, Japan, Malaysia, North America, Singapore, South Korea, Thailand, Taiwan and throughout Europe. The business has over 1,900 employees serving customers in more than 150 countries.

Author
Paul Gay

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