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.
Source: BNN Bloomberg
By Kiel Porter, Gillian Tan and Davide Scigliuzzo
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.