Commercial vehicle leasing company Skylink Holdings has agreed to acquire the business and related assets of bodywork customisation specialist Chuang Li Partners for $1.75 million.
A business transfer agreement was signed between Skylink Holdings’ wholly-owned subsidiary, Skylink Engineering, and Chuang Li Partners, on Dec 16.
Chuang Li Partners was established in 2017 and specialises mainly in the design, manufacturing, installation and customisation of upper body structures for commercial vehicles such as utility bodies like cargo and canopies, railing, platforms and tailgates.
According to Skylink Holdings, the acquisition will expand its engineering capabilities, talent pool and customer base for its commercial vehicles bodywork customisation solutions. It adds that bodywork customisation is vital for commercial vehicles, as they enable their business owners to “meet specific business needs, improve operational efficiency and comply with regulations”.
To Wesley Shen, executive director and CEO of Skylink, the acquisition is expected to strengthen the company’s engineering capabilities, broaden our customer base and further optimise its capacity for the recently expanded specialist workshop area at Jurong Port Road.
It is also expected to “improve cost efficiencies for bodywork customisation work across the group’s expanding internal fleet and for our third-party customers,” Shen adds.
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Shares in Skylink closed flat at 29 cents on Dec 16.
