In 2012, ShawKwei acquired loss-making precision manufacturer Beyonics Technology for $115 million.
ShawKwei acquired the Singapore company because it was an asset-based mid-market company with an extremely strong franchise value and potential for high value growth that could be realised through a transformation of its business.
As a high technology precision manufacturing company, Beyonics’ business was part of a major growth sector in Asia that reflected the region’s moves up the value chain.
ShawKwei took a position on the board, made changes to the management team, brought in an experienced CEO as well as several other world-class management staff, and set a clear strategy that focused on precision engineering of high value components in four key industries: automotive, medical, industrial and high-end consumer.
The company was de-listed to enable change. In 2016, ShawKwei acquired and delisted another company, Chosen Holdings, to expand its production range, build economies of scale and merged it under the Beyonics brand name.
With the merger of Chosen in 2016, ShawKwei added mould design and fabricating capabilities to Beyonics’ existing suite of services, which now encompasses precision metal stamping, mould design and fabrication capabilities, printed circuit board assembly, precision plastic injection moulding, aluminium die casting and machining, electronics sub-assembly, and complete product manufacturing.
ShawKwei have invested in modern, automated, state-of-the art campuses in Malaysia, China, Thailand and most recently in the company’s headquarters in Singapore.
In 2017, Beyonics did five times more business than the previous year and continues to expand its order book.
Where Beyonics had a single major client in 2012, it now has more than 100 clients, including some of the world’s largest and best-known brands from global automotive companies, medical and life science companies, industrial products companies, and consumer market leaders.
Today, Beyonics has become Asia’s leading precision manufacturer, implementing the right strategy at the right time backed by consolidation, operational improvement and strong decisive management.
Beyonics’ vertically integrated approach makes it an attractive a one-stop shop for clients for production/manufacturing and assembly, helping to reduce costs and delivery time, and taking complexity out of the supply chain.