Singapore Firm SP Manufacturing Acquired by Novo Tellus

SP Manufacturing has been acquired by Novo Tellus, a leading private equity fund focused on building industrial and technology companies.

SP, founded in 2012 and headquartered in Singapore, is a growing leader in the production of mission-critical electronics for industrial and medical customers. The company takes pride in establishing close, strategic partnerships with leading global OEMs, and it provides an integrated set of manufacturing, engineering, and design services centred on high-mix, high-performance industrial products.

Novo Tellus has acquired a controlling stake in SP as part of the investment, with the Company's family owners retaining a meaningful and active stake in the business.

"We've been impressed with SP's specialised approach to building long-lived partnerships with global customers," said Keith Toh and Peishan Wong at Novo Tellus.  "As a result, SP has grown 2 to 3 times faster than the global electronics manufacturing services for over a decade now.  We believe SP's ability to serve customers closely onshore in Europe and the United States, but also provide engineering and manufacturing services offshore in Southeast Asia and China, reflect the best strengths of where the modern global production network is evolving in the coming decade."

"We're pleased to partner with Novo Tellus to build the future of SP", noted Philip Ong, CEO of SP.  "We found in Novo Tellus a kindred appreciation of our strong customer orientation, and also a deeply informed mindset around how SP is positioned to benefit from long-term tailwinds of digitalisation and automation in our key industries.  We've been impressed with Novo Tellus' track record of growing industrial companies globally, and look forward to accelerating growth in our customers and capabilities together in the coming years."