Taiwan-listed BizLink Holding has agreed to acquire Interplex Datacom, the information and communications technology unit of Blackstone’s Ennovi, in a transaction valued at around $850 million, becoming one of the few notable divestments in the Southeast Asia M&A market this year for large-cap private equity transactions.
The all-cash transaction also includes a $50-million earn-out and is expected to close subject to regulatory approvals.
The listed power cord maker intends to fund the transaction with a combination of cash on hand and committed debt financing provided by Citigroup.
J.P. Morgan acts as the exclusive financial advisor to Blackstone, with Freshfields as its legal advisor and Deloitte as its financial and tax due diligence advisor.
The sale adds to a small number of liquidity events in Southeast Asia’s buyout market, which has been struggling with limited exit opportunities for several years. While TPG’s $1.3-billion exit of XCL Education to KKR is set to rank among the largest such deals in the region this year, the transaction has yet to be formally announced by the parties involved. Other exit plans by blue-chip managers like CVC and TPG that DealStreetAsia reported on earlier this year have yet to make any official announcements.
Interplex Datacom is a Singapore-headquartered provider of interconnect solutions and precision mechanical components used in data centre infrastructure and other advanced manufacturing applications. The business, which has over 65 years of history, generated approximately $392 million in revenue for the twelve months ended March 2026 and operates manufacturing sites across China, Vietnam, Malaysia and Thailand.
The acquisition will strengthen BizLink’s position in data centre infrastructure, particularly in the mechanical and structural components of AI server racks, complementing its existing expertise in electrical and connectivity solutions. BizLink said the deal enhances its ability to offer integrated, end-to-end solutions across the fast-growing AI infrastructure value chain.
“Asia is the fastest-growing region for AI data center deployment, and our customers need partners who can anticipate their future needs and scale at pace,” said Felix Teng, BizLink’s CEO and Co-Founder. “Interplex Datacom’s manufacturing depth, design capabilities and customer relationships across the region support the growth and momentum we have already built.”
“Our investment in Interplex has focused on building a stronger, future-ready business,” said Haide Hong, Senior Managing Director, Blackstone Private Equity. “Through close partnership with management and significant investment in dedicated teams and resources, we transformed Interplex Datacom into a key supplier in the AI compute value chain.”
Blackstone will continue to own Ennovi, a global manufacturer of precision components and interconnect solutions that enable power and data transmission in applications including electric vehicles, medical devices and industrial systems.
The PE firm acquired Singapore-based Interplex from EQT’s BPEA fund for an enterprise value of $1.6 billion in 2022. Interplex, in partnership with its owner, Blackstone, subsequently launched ENNOVI, a standalone mobility electrification business focused on the rapidly growing EV market.
ENNOVI was created through a reorganisation of Interplex’s core operations to concentrate specifically on designing, developing, and engineering advanced interconnect solutions for battery systems, power platforms, and signal systems used in electric vehicles, per a release at the time.
