INNEOVA Holdings Limited Strengthens Engineering Capabilities and Accelerates Growth in Sustainable Solutions with the Acquisition of INNEOVA Engineering Pte. Ltd.
INNEOVA Holdings has completed the acquisition of INNEOVA Engineering, marking a strategic expansion of its engineering and sustainable solutions capabilities. This Singapore-based company, recently rebranded from SAG Holdings, aims to strengthen its position beyond automotive and industrial spare parts distribution.
The company reported revenues of $59.5 million for FY2023, with revenue split between On-Highway (45.1%) and Off-Highway Business (54.8%). The acquisition, approved by shareholders on March 31, 2025, enhances INNEOVA's ability to provide full-chain solutions from components supply to engineering integration.
Building on its 2019 expansion into life science environmental sector, where it supplies air filtration systems to hospitals, INNEOVA is positioning itself to capitalize on growing demand for sustainable engineering solutions. The merger is expected to create significant synergies and expand service offerings in engineering and green technologies.
INNEOVA Holdings ha completato l'acquisizione di INNEOVA Engineering, segnando un'espansione strategica delle sue competenze nell'ingegneria e nelle soluzioni sostenibili. Questa società con sede a Singapore, recentemente rinominata da SAG Holdings, punta a rafforzare la propria posizione oltre la distribuzione di ricambi per il settore automotive e industriale.
L'azienda ha registrato ricavi per 59,5 milioni di dollari nell'anno fiscale 2023, con una ripartizione dei ricavi tra On-Highway (45,1%) e Off-Highway Business (54,8%). L'acquisizione, approvata dagli azionisti il 31 marzo 2025, potenzia la capacità di INNEOVA di offrire soluzioni a catena completa, dalla fornitura di componenti all'integrazione ingegneristica.
Partendo dall'espansione nel settore ambientale delle scienze della vita avvenuta nel 2019, dove fornisce sistemi di filtrazione dell'aria agli ospedali, INNEOVA si sta posizionando per sfruttare la crescente domanda di soluzioni ingegneristiche sostenibili. La fusione dovrebbe generare sinergie significative e ampliare l'offerta di servizi nell'ingegneria e nelle tecnologie verdi.
INNEOVA Holdings ha completado la adquisición de INNEOVA Engineering, marcando una expansión estratégica de sus capacidades en ingeniería y soluciones sostenibles. Esta empresa con sede en Singapur, recientemente renombrada desde SAG Holdings, busca fortalecer su posición más allá de la distribución de repuestos para automoción e industria.
La compañía reportó ingresos de 59.5 millones de dólares para el año fiscal 2023, con una división de ingresos entre On-Highway (45.1%) y Off-Highway Business (54.8%). La adquisición, aprobada por los accionistas el 31 de marzo de 2025, mejora la capacidad de INNEOVA para ofrecer soluciones integrales desde el suministro de componentes hasta la integración de ingeniería.
Basándose en su expansión en 2019 hacia el sector ambiental de ciencias de la vida, donde suministra sistemas de filtración de aire a hospitales, INNEOVA se está posicionando para aprovechar la creciente demanda de soluciones de ingeniería sostenibles. Se espera que la fusión genere sinergias significativas y amplíe la oferta de servicios en ingeniería y tecnologías verdes.
INNEOVA Holdings는 INNEOVA Engineering 인수를 완료하며 엔지니어링 및 지속 가능한 솔루션 역량의 전략적 확장을 이루었습니다. 싱가포르에 본사를 둔 이 회사는 최근 SAG Holdings에서 사명을 변경했으며, 자동차 및 산업용 부품 유통을 넘어 입지를 강화하는 것을 목표로 하고 있습니다.
회사는 2023 회계연도에 5950만 달러의 매출을 보고했으며, 매출은 온하이웨이(45.1%)와 오프하이웨이 비즈니스(54.8%)로 나뉘어 있습니다. 2025년 3월 31일 주주 승인된 이번 인수는 INNEOVA가 부품 공급부터 엔지니어링 통합까지 전 과정 솔루션을 제공할 수 있는 능력을 강화합니다.
2019년 생명과학 환경 부문으로의 확장에 기반하여 병원에 공기 여과 시스템을 공급하는 INNEOVA는 지속 가능한 엔지니어링 솔루션에 대한 증가하는 수요를 활용할 준비를 하고 있습니다. 이번 합병은 상당한 시너지 효과를 창출하고 엔지니어링 및 친환경 기술 서비스 제공을 확대할 것으로 기대됩니다.
INNEOVA Holdings a finalisé l'acquisition de INNEOVA Engineering, marquant une expansion stratégique de ses capacités en ingénierie et solutions durables. Cette société basée à Singapour, récemment renommée depuis SAG Holdings, vise à renforcer sa position au-delà de la distribution de pièces détachées automobiles et industrielles.
L'entreprise a déclaré un chiffre d'affaires de 59,5 millions de dollars pour l'exercice 2023, avec une répartition du chiffre d'affaires entre On-Highway (45,1 %) et Off-Highway Business (54,8 %). L'acquisition, approuvée par les actionnaires le 31 mars 2025, améliore la capacité d'INNEOVA à fournir des solutions complètes, de la fourniture de composants à l'intégration en ingénierie.
Après son expansion en 2019 dans le secteur environnemental des sciences de la vie, où elle fournit des systèmes de filtration d'air aux hôpitaux, INNEOVA se positionne pour profiter de la demande croissante en solutions d'ingénierie durables. La fusion devrait générer des synergies significatives et élargir l'offre de services en ingénierie et technologies vertes.
INNEOVA Holdings hat die Übernahme von INNEOVA Engineering abgeschlossen und damit eine strategische Erweiterung seiner Kompetenzen im Bereich Engineering und nachhaltige Lösungen vollzogen. Das in Singapur ansässige Unternehmen, das kürzlich von SAG Holdings umbenannt wurde, will seine Position über den Vertrieb von Ersatzteilen für Automotive und Industrie hinaus stärken.
Das Unternehmen meldete für das Geschäftsjahr 2023 Umsätze von 59,5 Millionen US-Dollar, wobei sich die Umsätze auf On-Highway (45,1 %) und Off-Highway Business (54,8 %) aufteilen. Die am 31. März 2025 von den Aktionären genehmigte Übernahme verbessert INNEOVAs Fähigkeit, Komplettlösungen von der Komponentenlieferung bis zur Engineering-Integration anzubieten.
Aufbauend auf der Expansion in den Life-Science-Umweltsektor im Jahr 2019, in dem es Luftfiltersysteme für Krankenhäuser liefert, positioniert sich INNEOVA, um von der steigenden Nachfrage nach nachhaltigen Engineering-Lösungen zu profitieren. Die Fusion wird voraussichtlich erhebliche Synergien schaffen und das Dienstleistungsangebot im Bereich Engineering und grüne Technologien erweitern.
- Strategic acquisition of INNEOVA Engineering expands service offerings and engineering capabilities
- Revenue of $59.5M reported for FY2023 with balanced revenue mix between On-Highway (45.1%) and Off-Highway (54.8%) segments
- Successful expansion into life science environmental sector since 2019 with hospital contracts
- Diversification into full-chain solutions from parts supply to engineering and systems integration
- Shareholder approval received for acquisition and corporate rebranding
- Related party transaction raises potential conflict of interest concerns
- Acquisition costs and integration expenses not disclosed
- No mention of INNEOVA Engineering's financial performance or acquisition price
Insights
INNEOVA's acquisition of Engineering division strengthens capabilities, extends value chain, and accelerates diversification into sustainable technologies.
This acquisition represents a strategic expansion for INNEOVA Holdings (Nasdaq: INEO), transforming from a parts distributor to a provider of comprehensive end-to-end solutions. The company is extending its capabilities beyond its existing INNEOVA Automotive and INNEOVA Industrial divisions, which currently focus on distributing spare parts and combustion engines.
The financial context shows INNEOVA reported
This move builds upon INNEOVA's previous diversification into the life science environmental sector in 2019, where it supplied and maintained indoor air filtration systems for government hospitals. The Engineering acquisition allows INNEOVA to capture more value across the supply chain by offering not just components but also customized engineering solutions and systems integration.
The strategic focus on sustainable engineering solutions positions INNEOVA to address growing market demand for green technologies, particularly in electrification and energy efficiency. This three-pillar structure (Automotive, Industrial, and now Engineering) creates potential synergies across divisions while opening new revenue opportunities beyond traditional parts distribution.
Acquisition creates vertical integration from components to engineering services, strategically positioning INNEOVA in sustainable technology solutions.
This acquisition strategically transforms INNEOVA's business model from component distribution to a full-service engineering solutions provider. By integrating INNEOVA Engineering, the company creates a vertically integrated structure that spans the entire value chain—from critical parts supply to customized engineering services and systems integration.
The technical significance lies in how this structure enables INNEOVA to deliver more sophisticated solutions in electrification, energy efficiency, and system lifecycle analysis. This capability expansion addresses the increasingly complex requirements in both on-highway (automotive) and off-highway (industrial) applications, where sustainability considerations are becoming paramount.
INNEOVA's existing experience in the environmental sector, specifically with air filtration systems for healthcare facilities since 2019, provides a foundation for this expanded sustainable technology focus. The engineering capabilities acquired enable the company to develop more comprehensive solutions leveraging their established components expertise.
This three-pillar integration (Automotive, Industrial, and Engineering) represents a forward-looking approach that balances current market needs with emerging technologies. Rather than abandoning their traditional combustion engine components business, INNEOVA is using it as a platform to build engineering capabilities that can support both legacy systems and green technology transitions. This balanced approach helps mitigate transition risks while positioning for growth in sustainable engineering solutions.
SINGAPORE, April 30, 2025 (GLOBE NEWSWIRE) -- INNEOVA Holdings Limited (Nasdaq: INEO, "INNEOVA Holdings" or the "Company" or the "Group"), a leading Singapore-based provider of high-quality Original Equipment Manufacturer ("OEM"), third-party branded and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines, today announced that it has completed the acquisition of INNEOVA Engineering Pte. Ltd. ("INNEOVA Engineering"), a Singapore-based engineering solutions provider.
This strategic acquisition represents a significant milestone in INNEOVA Holdings' transformation strategy, following the Company's recent corporate rebranding from SAG Holdings Limited to INNEOVA Holdings Limited. The acquisition strengthens the Company's commitment to scaling its engineering capabilities, expanding into green technologies, and delivering innovative, high-impact solutions across on- and off-highway industries.
The acquisition of INNEOVA Engineering is expected to significantly extend INNEOVA Holdings' capabilities beyond its existing divisions—INNEOVA Automotive and INNEOVA Industrial—which currently specialize in the distribution of on-highway and off-highway spare parts, consumables, and combustion engines. With the addition of INNEOVA Engineering, the Group is now positioned to accelerate its diversification into offering a comprehensive, full-chain solution—from critical components supply to customized engineering and systems integration. This strategic expansion allows INNEOVA Holdings to serve a broader spectrum of industries with deeper, end-to-end value creation. With these three pillars working in synergy, INNEOVA Holdings is ready to drive meaningful progress in electrification, energy efficiency, and system lifecycle analysis for our customers worldwide.”
The acquisition, which constituted a related party transaction, received shareholder approval at the Company's Extraordinary General Meeting (EGM) on March 31, 2025, alongside the approval of the Company's name change. The transaction was thoroughly reviewed by a special committee of the Company's Audit Committee members, supported by an independent financial adviser's valuation report.
INNEOVA Holdings reported revenues of
This acquisition builds upon the Company's successful expansion into the life science environmental sector in 2019, where it has been working with government hospitals to supply, install, and maintain indoor air filtration systems. With INNEOVA Engineering's additional expertise, the Company believes it is well-positioned to capitalize on the growing demand for sustainable engineering solutions.
About INNEOVA Engineering
INNEOVA Engineering Pte. Ltd. is a Singapore-based provider of turnkey engineering solutions for key sectors, including transport, healthcare, defense, utilities, and facility management. Renowned for its innovation and sustainability focus, the Company delivers integrated services—such as cooling and flow management systems and fleet maintenance—that improve energy efficiency, optimize performance, and extend asset life. As demand for resilient infrastructure grows, INNEOVA Engineering is well-positioned to drive long-term value through smarter, more sustainable operations.
About INNEOVA Holdings
INNEOVA Holdings (formerly known as SAG Holdings Limited) is a leading Singapore-based provider of high-quality Original Equipment Manufacturer ("OEM"), third-party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines.
On-Highway Division: We provide an extensive range of genuine OEM and aftermarket parts for passenger vehicles, trucks, and buses. Our offerings include parts from manufacturers' brands, trusted third-party labels, and our in-house brands.
Off-Highway Division: Catering to industries like construction, marine, power generation, mining, and transportation, we offer specialized spare parts focusing on filtration systems, lubricants, batteries, and internal combustion engine components.
Our unwavering commitment to quality seeks to ensure that our customers experience maximum uptime, enhanced performance, and reduced total cost of ownership throughout the lifecycle of their machines. For more information, visit https://www.inneova.co.
Safe Harbor Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “seeks,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and INNEOVA Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
Ivy Lee / Jamie Neo
INNEOVA Holdings Limited
Tel: +65 6383 7540
Email: ir@inneova.co
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