Ashurst ADTLaw acted for PrimeMovers Equity on its joint take-over and delisting of Spindex Industries Limited with Hong Wei Holdings Ltd through a scheme of arrangement.
PrimeMovers Equity is a Singapore-based private equity investment management firm that actively works with management teams in the mid-market segment in Southeast Asia by way of its Growth and Transformation through Operations (GTOTM) framework. Spindex Industries Limited is a Singapore-headquartered precision engineering company with more than 40 years of experience, offering end-to-end manufacturing capabilities and supplying custom precision-machined components and assemblies to multinational customers globally. With approximately 1.2 million square feet of manufacturing facilities in Singapore, Malaysia, China and Vietnam, Spindex and its subsidiaries support a wide spectrum of high-growth industries, including automotive, consumer products, office automation, medical and semiconductor sectors.
The transaction was led by Tao Koon Chiam and Xiaozheng Ko, supported by Mei An Chan and Yixi Wang.
