Minority Stake in syncreon Acquired by GenNx360 Capital Partners
Portfolio Company News - April 01, 2009
GenNx360 Capital Partners, a private equity firm focused on industrial business-to-business companies with $250 million to $1 billion in revenues, announced today that it has acquired a minority stake in syncreon, a specialized provider of integrated logistics services and highly customized supply chain solutions to global industries. Financial terms of the transaction were not disclosed.
syncreon, with more than 8,000 employees and projected revenues this year of more than $600 million, is a privately-owned and profitable company headquartered in Auburn Hills, MI with offices in Dublin, Ireland and 11 other countries.
"syncreon has developed unrivaled asset-light supply chain expertise that can help global industrial companies significantly increase their operating efficiencies," said Ronald Blaylock, a GenNx360 founding partner. "The company has considerable growth potential as it expands beyond its core base of automotive and technologies companies. We are looking forward to partnering with syncreon's management to achieve its ambitious goals and objectives."
For more information about syncreon, please visit: www.syncreon.com
About syncreon
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 customers’ supply chain and final end-client delivery. syncreon is the name given to the new merged company, following Walsh Western International’s acquisition of TDS Logistics in March 2007. syncreon is a global business with its operational HQ in Auburn Hills, MI. syncreon has activities in 20 countries, with over 50 facilities and approximately 9,000 employees. syncreon is owned by Irish businessmen Michael & Brian Enright and New York based private equity firm, GenNx360 Capital Partners.