AcroMeta Group has signed a binding term sheet to sell its wholly owned engineering subsidiary, Acro Harvest Engineering, for approximately S$1.425m ($1.05m).
Acro Harvest Engineering provides installation and maintenance services for air-conditioning and mechanical ventilation systems, critical for cleanrooms, laboratories, and other controlled environments.
The move is part of a refocus on the company’s core controlled environment and laboratory infrastructure business.
Completion is expected by 7 May, subject to due diligence, definitive agreements and shareholder approval.
“This transaction allows the Group to sharpen its strategic focus and strengthen its financial flexibility as we position AcroMeta to pursue opportunities aligned with our longer-term priorities,” said Lawrence Toh, Executive Director of AcroMeta Group.
The net proceeds of around S$1.34m ($1,005,000) will be reinvested into working capital and targeted growth initiatives.
This will allow AcroMeta to focus on laboratory construction, cleanroom engineering, and co-working lab facilities.
Renewed focus on design and build vs maintenance
HVAC services remain a core enabler of cleanroom performance, ensuring proper airflow, filtration, and environmental control.
The sale indicates a strategic shift toward the design, build, and operation of controlled environment facilities rather than ongoing maintenance services.
The transaction is classified as a “major transaction” under Singapore Exchange rules.
The final sale price will be adjusted based on the subsidiary’s net asset value at completion.
The announcement comes two years after AcroMeta Group entered into a sale and purchase agreement with Altea LSI Asset Management for the disposal of all its sale shares in Life Science Incubator Holdings.