SINGAPORE (Mar 19): On March 13, shareholders of offshore and maritime support company Gaylin Holdings welcomed a new owner. Private-equity firm ShawKwei & Partners has completed its purchase of 76% of Gaylin for US$52 million ($68.2 million). Kyle Shaw, managing director of ShawKwei, is confident of being able to turn the company around. “We need to get our sales back up, which will have a tremendous impact on the gross margins. We expect our business plan to be profitable on operating margin next year,” he says.

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