Additional Investment in syncreon Announced by GenNx360 Capital Partners
Portfolio Company News - November 17, 2011
GenNx360 Capital Partners, L.P., a middle market, operationally-focused private equity firm, announced today that it increased its investment in and ownership of syncreon, a global asset-light logistics and supply chain solutions portfolio company. This marks GenNx360's third increase in its investment in syncreon since its original investment in February, 2009.
"We are excited about this opportunity to further increase our commitment to syncreon. The stability of the business, its attractive growth dynamics, long term and well established customer relationships, and experienced management team makes this a very attractive investment," said Lloyd Trotter, a GenNx360 Founder and Managing Partner.
This latest investment in syncreon gives GenNx360 majority control of the company. To complete this investment, capital was provided from both its fund and affiliates of GenNx360.
"This is very much business as usual for syncreon. GenNx360 has been a long term investor in syncreon and their continued investment in syncreon represents their confidence in syncreon's strategy, management and business model. The Enright family is excited about continuing their relationship with GenNx360 and growing the business together," said Brian Enright, CEO of syncreon.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity 3.0 firm that applies leading operational expertise and investment discipline to successfully buy, guide, grow and sell industrial B2B companies, generate superior returns, and preserve capital regardless of market cycles.
syncreon is a global contract logistics and supply chain management company that uses its asset-light business model to provide specialized transportation, inbound, outbound, and fulfillment logistics services. These services are fully integrated into their customersâ€™ supply chain and final end-client delivery. syncreon is a global business based in Ireland with its operational HQ in Auburn Hills, MI. syncreon has activities in 25 countries, with approximately 82 facilities and approximately 12,000 employees. syncreon is owned by Irish businessmen Michael & Brian Enright and New York based private equity firm, GenNx360 Capital Partners. Visit syncreon.com for further information.