SOLARVEST Holdings Bhd is acquiring a 30% equity interest in SIW Manufacturing Sdn Bhd (SMSB), a manufacturer of waste gas abatement systems and gas system-related modules for the semiconductor industry, for RM36 million.

The purchase will be made in three tranches: RM12 million by December 2024, RM12 million by April 2025 (subject to financial performance), and RM12 million by July 2025.

Upon the first tranche payment, the sale and purchase of the shares will be considered complete.

The acquisition will be funded through a combination of internally generated funds and debt financing, with the proportions to be determined later.

SMSB will become an associate company of Solarvest upon completion of the first payment.

The acquisition aligns with Solarvest’s five-year roadmap to expand into clean energy and sustainable technology markets, diversify revenue, and enhance technological capabilities.

“SMSB’s specialisation in manufacturing waste gas abatement systems and gas system-related modules are essential in enabling clean and efficient operations globally. This acquisition positions Solarvest to expand its footprint into complementary markets with substantial growth potential,” Solarvest said.

The move strengthens Solarvest’s position as it leverages SMSB’s expertise and furthers its vision to become a leader in green technology. — TMR