This article is from page 33 of the 2010-01-05 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 33 JPG
SYNCREON, an Irish company which bought into a Clare concern in the 1990’s has bought a US group for $35 million.
Syncreon, a specialized provider of integrated logistics services and highly customized supply chain solutions to global industries, an- nounced today it has acquired NAL Worldwide Holdings, Inc. The terms of the transaction are not be- ing disclosed.
Syncreon was the name given to the new merged company, follow- ing Walsh Western International’s acquisition of TDS Logistics in March 2007.
One of the founders of Walsh Western is Drumline man Michael Enright who helped build the logis- tics company during the 90s, suc- cessfully tapping the development boom by supplying just-in-time materials to Irish plants of US com-
puter giants, Intel, Dell, Digital and Apple.
Enright sold the majority of the firm for €51 million in 1999 with the Enright family retaining a quar- ter of the business. Michael Enright is listed as Chariman of Syncreon while his son, Brian, is President and CEO.
Addison, IL-based NAL 1s a third- party logistics (3PL) and supply chain services company providing solutions to the telecommunica- tions, retail, hi-tech and healthcare industries. The transaction pro- vides Syncreon six additional US facilities, a national network of 150 service providers and more than 550 people.
In addition, this transaction strengthens Syncreon’s service of- fering and expands end markets served to include telecommunica- tions and retail.
NAL Worldwide had revenues of US$75 million in 2009 and had
been majority owned by Chicago based private equity firm Lake Capital. Brian Enright, said, “We are very pleased with this transac- tion. NAL considerably adds to our capabilities in the key US market and brings us access to new sec- tors, customers, capabilities and human talent.
This acquisition builds upon syn- creon’s core differentiator – flexible and customized solutions for our customers”.
Syncreon is a global contract logistics and supply chain man- agement company that uses its asset-light business model to pro- vide specialized transportation, inbound, outbound, and fulfillment logistics services.
These services are fully inte- grated into their customers’ supply chain and final end-client delivery. 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 employ- ees. Syncreon is owned by Irish businessmen Michael and Brian Enright and New York based pri- vate equity firm, GenNx360 Capi- tal Partners.
Walsh Western International, headquartered in Dublin, had been one of the fastest growing and most successful supply chain service providers in Europe.
Specializing in end-to-end lo- gistics and supply chain solutions, WWI provided a broad range of services that closely complimented those of TDS including fulfillment, reverse logistics, dynamic in-tran- sit merge and distribution, freight management and transportation so- lutions for the technology industry. W WI] established a strong presence in the electronic and technology sectors, servicing customers such as Dell, Epson, and HP.