Templewater buys Singapore precision engineering player

The size of the transaction was not disclosed. Templewater’s previous deals include the acquisition of Bravo Transport – owner of Hong Kong’s Citybus franchise – for HKD 3.2bn (USD 408m). The firm’s private equity portfolio also features asset manager SC Lowy and UK-based timber importer Consolidated Timber Holdings Group.

Knight Auto manufactures components used in semiconductor chip testing and assembly. Other competencies include plastic mould-making, high-speed precision stamping, and tool and die-making. The company has factories in Singapore, Malaysia, China, and the Philippines. It serves a multinational client base from Asia, the US, and Europe.

“The company is in a great position to capitalize on the favourable industry tailwinds in the market. We look forward to partnering with the team at Knight Auto to further expand the company’s presence globally,” said Simon Chuk, a partner at Templewater who led the transaction, in a statement.

Templewater is an alternative asset manager active in private equity, real estate, and impact investment. It was established in 2018 by Cliff Zhang, who previously worked for Hong Kong’s Chow Tai Took Enterprise (CFTE), where he focused on private equity, global M&A, and corporate development.

Investec and CFTE together participated in numerous private equity deals between 2013 and 2017, including the establishment of Goshawk Aviation, which went on to become one of the world’s largest commercial aircraft leasing businesses.

Zhang left CTFE in 2018 and set up Templewater with Investec. In 2021, Investec’s Asia principal investments division became part of Templewater.

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• Topics
• Southeast Asia
• Industrials
• Buyouts
• Singapore
• manufacturing
• Templewater