Spotlight Capital Holdings Announces Acquisition of Chevine Transport LLC
LAS VEGAS, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Spotlight Capital Holdings (OTCMKTSPINK: SLCH) is proud to announce that it has completed the acquisition of Florida-based trucking company Chevine Transport LLC. This acquisition has secured an entry position for Spotlight Capital to move into the ever-expanding yet the necessary world of Transportation and Logistics. Chevine Transport led by its founder Ms. Lesline Johnson has successfully positioned the company to be scaled, the company operates a small fleet of semi-trucks providing on-demand supplemental services as a contract carrier to larger trucking companies and third-party logistics providers.
“This move into trucking stand-alone will be a value add and a revenue-generating asset within Spotlight Capital’s portfolio,” said newly appointed president Deshorn King. The deal comes to a close after months of negotiations and structuring resulting in a 2.5 million dollar acquisition via stock. The combined companies will initiate Spotlight Capital’s efforts to secure and raise capital to scale Chevine’s business models. The company plans on increasing its fleet size and equipment, rolling out various personnel programs to address the workforce shortage within the trucking industry, and acquiring strategic terminals throughout the US in order to increase efficiency and excess to profitable markets. As for Spotlight Capital and its various ventures, the company has embarked on this acquisition will play a necessary role in providing logistics services to its entertainment division whether it hauling equipment to and from locations for concerts or in support of Spotlight's future movie productions. The company and its members are excited to add Chevine Transport to the family and have high hopes for the company in the near future.
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