Syncreon Holdings Reported to Be Weighing $1.5 Billion Sale
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The owners of supply-chain services company Syncreon Holdings are exploring a sale of the company that could value it at as much as $1.5 billion, including debt, according to people with knowledge of the matter.
Syncreon’s owners are working with an adviser to assist in the process, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
Syncreon is expected to attract interest from private equity firms and other logistics companies, the people added. A final decision hasn’t been made and its owners could elect to keep the business.
Syncreon underwent a financial restructuring during 2019 in which lenders, including the credit arms of CVC Capital Partners and Carlyle Group Inc., took ownership of the company, the people said. Previous backers GenNx360 Capital Partners and Centerbridge Partners surrendered control of the company, they said.
A representative for CVC declined to comment. Representatives for Syncreon and Carlyle didn’t respond to requests for comment.
The company, based in Auburn Hills, Mich., was formed in 2007 when Dublin-headquartered Walsh Western International bought TDS Logistics. The company provides services including warehouse management, export packing and fulfillment, according to its website.
Syncreon Holdings ranks No. 36 on the Transport Topics Top 50 list of the largest logistics companies in North America.
Kiel Porter, Gillian Tan and Davide Scigliuzzo were the primary contributors to this report.
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