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Templewater Acquires Knight Auto Precision Engineering
31 August 2023, Singapore
Announcements
Private Equity
(31 August 2023, Singapore) Templewater announced today the successful acquisition of Knight Auto Precision Engineering Pte Ltd ("Knight Auto") through Templewater I, L.P.
Knight Auto is a market leading manufacturer of components for semiconductor chip testing and assembly. The company has industry leading product design capabilities and serves a blue-chip customer base consisting of the world's largest Integrated Device Manufacturers (IDMs) and Outsourced Semiconductor Assembly and Test Suppliers (OSATs).
Cliff Zhang, Chairman and CEO of Templewater, commented, “Knight Auto has shown a track record of excellence which has earned them an outstanding reputation within the industry. James (“the founder”) has built an impressive business and we are delighted to partner with him and the management team to take the company to its next stage of growth.”
Simon Chuk, Partner at Templewater leading the transaction, added, “The company is in a great position to capitalize on the favorable industry tailwinds in the market. We look forward to partnering with the team at Knight Auto to further expand the company’s presence globally.”
James Boo, Founder and CEO of Knight Auto, added, “I am excited that Knight Auto is now part of the Templewater family. Combining the strengths of Templewater and Knight Auto's track record, I believe we will achieve greater heights together in the backend testing semiconductor industry.”
Co-founded in 2018 by Cliff Zhang and the Investec Group, the Templewater Group (“Templewater”) is an alternative asset management firm headquartered in Hong Kong that offers investment solutions to institutions, entrepreneurs, and family offices across asset classes including private equity, impact investing, and real estate. Templewater’s private equity strategy focuses on investments in mid-market control buyout opportunities in the Asia Pacific and globally. Templewater invests in high quality companies with proven business models to help them achieve their full potential through active ownership and working closely with management teams to implement a series of value creation tools and best practices. Templewater currently manages capital on behalf of leading institutional investors and has a team with global direct investment and buyout experience across various sectors.
Additionally, Templewater has an impact investing strategy focusing on providing growth capital to high-quality next generation decarbonization technologies in the energy transition sector. The strategy aims to build mission driven companies that deliver attractive financial returns alongside social, environmental, and technological impact. Templewater has also a real estate investment strategy that focuses on property investment opportunities in Australia and New Zealand.
Knight Auto is a precision engineering company specializing in the design and manufacturing of jigs, fixtures, device kits and other products in the testing segment of the semiconductor industry. With more than 30 years of experience in precision machining coupled with manufacturing facilities across Singapore, Malaysia, China and the Philippines, Knight Auto’s clientele base also includes multinational corporations across the Asia Pacific region, United States and Europe.
