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Grand Venture Technology Limited Acquires ACP Metal Finishing to Expand Capabilities

  • 17 Dec 2023

Homegrown precision manufacturing solutions provider, Grand Venture Technology Limited (GVT or the Group), has announced its proposed acquisition of ACP Metal Finishing Pte Ltd (ACP), a Singapore-based surface treatment specialist, for an amount of S$17 million.

ACP is a leading provider of customised electroplating and surface treatment services, which includes cleaning and coating a component surface to resist corrosion and reduce wear and tear. Accredited by multiple aviation agencies, including the National Aerospace and Defense Contractors Accreditation Program (NADCAP), the Federal Aviation Administration (FAA), the Civil Aviation Authority of Singapore (CAAS), and the European Union Aviation Safety Agency (EASA). Its customer base includes precision engineering manufacturers in the aerospace, life sciences, optics, medical, and semiconductor industries.

Aerial Shot of ACP Metal Finishing. Photo Credit: ACP

Ricky Lee, Executive Deputy Chairman of GVT, said “We are excited to bring ACP and its surface treatment capabilities into GVT. With ACP on board, we expect to be able to deepen our penetration into the aerospace and front-end semiconductor segment, while aligning our capabilities across our facilities and providing integrated solutions across customer segments and geographical markets. This will help us to achieve our long-tern objective of becoming a leading global precision manufacturing player with sustainable growth.”

The acquisition will enable GVT to reduce its reliance on external parties for surface treatment services, which is a critical final stage process required by the Group’s customers in the aerospace, front-end semiconductor, life sciences, and medical segments.

Benefits of the Acquisition:

  • Aligns with GVT’s strategic goal of providing a comprehensive range of solutions while gaining access to new clients, markets, and business opportunities, accelerating business growth.
  • Enables the Group to become an integrated solution provider by combining component machining, sheet metal fabrication, mechatronics module assembly, and surface treatment.
  • Allows GVT to expand its customer touchpoints in the aerospace segment in China to include Singapore and the region.
  • Allows the Group to be better positioned to build a differentiated advantage in the front-end semiconductor segment and develop its in-house precision cleaning capabilities.

    The acquisition amount was decided upon following fair negotiations on a willing-buyer, willing-seller basis, taking into account ACP’s technical performance and niche capabilities in the aerospace sector, as well as the potential synergies it could bring to GVT. The acquisition will be financed using a combination of internal resources and bank borrowings.

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