SINGAPORE -- Navis Capital Partners has acquired a majority stake in flex circuit maker MFS (S) Technology FPC, and will install a new management team, the company announced. 

Tan Bian Ee, MFS's CEO from 2011 to 2013, will return to head the company, Navis said. 

“MFS is a company that has orchestrated a successful and disciplined turnaround to redefine itself in the marketplace, and is today very well‐positioned to capitalize on rising global demand for interconnect and printed circuit solutions” Jean‐Christophe Marti, a senior partner of Navis said. "We are looking forward to working with the management team to continue building on MFS’ success and see immediate opportunities to deepen its share of wallet with existing customers and further penetrate selected industry niches.”

MFS was founded in 1989 and has a 125,000 sq. ft. plant in Malaysia, where it employs 1,000 workers, and 320,000 sq. ft across two factories in Changsha, Hunan, China, where it employs 1,300 staff. The company fabricates printed circuit boards and flex circuits.

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