HONG KONG – Chinese private equity firm DCP Capital aims to sell its Singaporean portfolio firm MFS Technology, which makes flexible printed circuit boards, for at least $550 million, Reuters reported.

The firm started marketing the sale on Friday and will send out confidential information memoranda next month, sources said.

The sale is targeting primarily financial sponsors, but also strategic buyers, and initial bids are expected by late May.

DCP Capital bought a controlling stake in MFS in 2018 from Navis Capital Partners and Novo Tellus Capital Partners for an undisclosed amount. MFS manufactures circuit boards with applications focused on automotive, industrial, medical and data storage end-markets, and has manufacturing facilities in China and Malaysia with sales teams in Germany and Canada.

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