Skylink Holdings has announced the acquisition of Chuang Li Partners, a specialist in bodywork customisation for commercial vehicles, as part of its strategic growth initiatives. This acquisition aims to expand Skylink’s engineering capabilities, talent pool, and customer base, whilst also capturing cost synergies across its leasing and engineering business segments.
Chuang Li Partners, established in 2017, is renowned for its design, manufacture, installation, and customisation of upper body structures for commercial vehicles. The company operates from a 4,400 square feet workshop in Toh Guan, which will be consolidated with Skylink’s newly leased 15,000 square feet industrial property at Jurong Port Road. This consolidation will increase Skylink’s total specialist workshop area to approximately 37,700 square feet, enabling the company to offer a broader range of services, including maintenance, repair, and overhaul (MRO) services, vehicle body fabrication, and spray painting.
Wesley Shen, Executive Director and CEO of Skylink Holdings, stated, “This strategic acquisition will further strengthen our engineering capabilities, broaden our customer base, and optimise our capacity for the recently expanded specialist workshop area at Jurong Port Road.” The acquisition is also expected to improve cost efficiencies for bodywork customisation across Skylink’s expanding fleet and third-party customers.
The acquisition involves a base and profit-target deferred consideration payment structure and includes the formation of a strategic joint venture with Chuang Li Partners’ key management team. This move aligns commercial interests and adds depth to Skylink’s talent pool, reinforcing its competitiveness and value creation in the market.
