Ashurst represents Singapore PE firm PrimeMovers Equity in its debut investment in Malaysian precision manufacturer EngTek

Global law firm Ashurst advised Singapore-based private equity firm PrimeMovers Equity (PME) in its acquisition of a majority stake in Engtek Group, a die casting and precision machining components manufacturer with facilities in Malaysia and Philippines.

London-based investment manager Lingotto Investment Management co-invested alongside PME, while Engtek's founder and management team retained a meaningful minority stake in the business.

This is PrimeMovers Equity's maiden investment since its inception.

Ashurst's Southeast Asia head of M&A Tao Koon Chiam commented, "We are proud to have advised the PrimeMovers team on their maiden investment and look forward to being part of their journey."

The transaction was led by Ashurst ADTLaw director Tao Koon Chiam, supported by Lisa Hui and Glenn Tan.