Southeast Asia-focused private equity fund managers Navis Capital Partners and Novo Tellus Capital Partners (NTCP) have agreed to exit their controlling stake in Singapore-based printed circuit board manufacturer MFS Technology to China-focused private equity firm Dehong Capital Partners. Navis and NTCP acquired MFS for approximately US$95 million in November 2014 through Navis VII and Novo Tellus PE Fund 1, respectively. Navis is reportedly expected to generate a 3x multiple at exit. Additional financial details of the transaction were not disclosed.