Dymon Asia Private Equity divested its majority stake in Fong's Engineering to LYFE Capital, enabling the company to enhance its growth potential in the medical technology sector.

Information on the Target

FSP Holdings Pte. Ltd., also known as Fong's Engineering, is a Singapore-based contract design and manufacturing organization (CDMO) established in 1982. The company specializes in providing integrated services for medical and surgical devices, delivering customized healthcare solutions to a growing base of blue-chip clients, primarily global leaders in the medical device sector.

Since Dymon Asia Private Equity (DAPE) acquired a majority equity stake in Fong’s Engineering in 2017, the company has undergone a strategic transformation under the leadership of Jeremy Fong (Chairman) and Clement Fong (CEO). This transformation was focused exclusively on serving the MedTech sector, culminating in significant advancements in design, research and development, and the development of proprietary intellectual property. Additionally, the company has completed a smart factory transformation, utilizing state-of-the-art automation technologies and establishing itself as a leader in the Industry 4.0 Smart Factory initiative for small and medium enterprises in Singapore.

Industry Overview in Singapore

The medical device industry in Singapore is recognized as one of the most dynamic sectors within the country’s economy. It plays a crucial role in Singapore’s positioning as a global hub for healthcare innov