The third party logistics company syncreon Holdings Ltd. said Thursday it has reached an agreement with the private investment firm Centerbridge Partners, which will make a “substantial minority equity investment” in the company.
Existing shareholders GenNx360 Capital Partners and Enright family-related shareholders will retain significant equity ownership in the company following the transaction.
"This investment is all about supporting the growth of the company,” said Brian Enright, co-founder and chief executive officer of syncreon, in a statement. “With Centerbridge onboarding to the shared vision and strategy of the existing shareholders, the company is poised to take the next steps in building out its service offering capability and footprint."
"We believe this is an exceptional opportunity to back a world-class management team in continuing to grow a differentiated, best-in-class business,” added Will Manuel, senior managing director at Centerbridge. “The company has an impressive operational track record as evidenced by their longstanding relationships with leading companies in both the technology and automotive industries." - Eric Johnson