BizLink to buy Blackstone’s Singapore-based Interplex for US$850 million

[SINGAPORE] US-headquartered BizLink Holding has agreed to acquire Interplex Datacom from Blackstone-backed Ennovi for up to US$900 million, a strategic move aimed at capturing surging demand for artificial intelligence data centres across Asia.

The all-cash transaction assigns Singapore-headquartered Interplex Datacom an enterprise value of US$850 million, and includes an additional contingent consideration of up to US$50 million.

BizLink, which is listed in Taiwan, intends to finance the acquisition using cash on hand alongside committed debt financing provided by Citigroup, it said in a joint press release with Blackstone on Wednesday (Jun 10).

It added that it plans to become a “one-stop shop” for integrated data centre solutions with this deal. The company currently specialises in providing essential components such as wire harnesses, connectors and cables for data centres, as well as products for other industries.

“Asia is the fastest-growing region for AI data centre deployment, and our customers need partners who can anticipate their future needs and scale at pace,” said BizLink chief executive and co-founder Felix Teng.

Interplex Datacom manufactures the structural and mechanical components that form the physical architecture of AI server racks, a rapidly growing segment that BizLink says complements its existing focus on electrical and connectivity solutions.

Blackstone bought Interplex for an undisclosed value in 2022 from Baring Private Equity Asia.

Interplex reported revenue of about US$392 million for the 12-month period ended Mar 31 and employs more than 1,900 people across facilities in China, Vietnam, Malaysia and Thailand.

For Blackstone, the world’s largest alternative asset manager, the sale marks the divestment of a key asset within the AI compute value chain.

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Haide Hong, senior managing director at Blackstone Private Equity, noted that the firm’s investment transformed the unit into a critical supplier for the AI sector, and added that Ennovi will now concentrate its efforts on its electrification and medical device businesses.

The transaction is subject to customary closing conditions and is slated to close in the second half of 2026.

Citigroup is acting as the exclusive financial adviser to BizLink, while JP Morgan Securities Asia is advising Blackstone on the transaction. Baker McKenzie and Freshfields are serving as the legal advisers to BizLink and Blackstone, respectively.