HONG KONG – Suzhou Dongshan Precision Manufacturing has completed its acquisition of Multek for $270 million, net of cash.

The transaction was announced in March by Multek’s parent company, Flex, in the form of a divestiture.

With the change in ownership, Multek becomes an indirect, wholly-owned subsidiary of DSBJ.

"This transaction represents a new chapter and key milestone in DSBJ's 38-year history," said Yuan Yonggang, chairman and president of DSBJ. "By acquiring Multek, we are creating a more powerful and global enterprise in the component technology space, with more than 25,000 employees, over 5 million sq. ft. of manufacturing space, and adding over 300 active customers, including the most respected brands in the US, Europe and Asia. With the merger complete, we aim to rapidly grow Multek by repeating the same successful recipe DSBJ used to significantly grow the sales of MFLEX, our last major acquisition in 2016, which was a similar-sized manufacturer in the same industry."

Multek currently operates a 1.6 million sq. ft. campus in Zhuhai, China, offering engineering and manufacturing services for rigid PCBs, FPC, rigid-flex, and assembly.

Flex earned $270 million from the sale, once liabilities were subtracted.

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