M&A Deal Summary

DP World Acquires Syncreon

On July 1, 2021, DP World acquired transportation company Syncreon from GenNx360 Capital Partners and Centerbridge Partners for 1.2B USD

Acquisition Highlights
  • This is DP World’s 2nd transaction in the Transportation sector.
  • This is DP World’s largest (disclosed) transaction.
  • This is DP World’s 1st transaction in Ireland.

M&A Deal Summary

Date 2021-07-01
Target Syncreon
Sector Transportation
Buyer(s) DP World
Sellers(s) GenNx360 Capital Partners
Centerbridge Partners
Deal Type Add-on Acquisition
Deal Value 1.2B USD
Advisor(s) Citigroup Investment Banking (Financial)
Hogan Lovells (Legal)

Target

Syncreon

Cloghran, Ireland
website
Syncreon is an asset-light global logistics company that facilitates the integration of customers’ supply chains and the final delivery of finished products to their end customers.

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Buyer(S) 1

Buyer

DP World

Dubai, United Arab Emirates

website


Category Company
Sector Transportation
Revenue 7.1B USD (2019)
DESCRIPTION

DP World is a global operator of container and marine terminals with a network of more than 65 terminals spanning six continents. DP World’s comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions. DP World is based in Dubai, UAE.


DEAL STATS #
Overall 7 of 9
Sector (Transportation) 2 of 4
Type (Add-on Acquisition) 6 of 8
Country (Ireland) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-24 Fraser Surrey Docks

Surrey, British Columbia, Canada

Fraser Surrey Docks LP is a trade enabler and solutions provider as the company looks to participate across a wider part of the supply chain. Fraser Surrey Docks was founded in 1960 and is based in Surrey, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-25 Imperial

Bedfordview, South Africa

Imperial is an African focused provider of integrated market access and logistics solutions. Imperial focuses on the following industries, healthcare, consumer, automotive, chemicals, industrial and commodities. Imperial seeks out to leverage new technology to deliver innovative, end-to-end solutions for customers. Imperial is based in Bedfordview, South Africa.

Buy -

Seller(S) 2

SELLER

GenNx360 Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 1.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GenNx360 Capital Partners is a private equity firm focused on acquiring mid-sized US-based businesses. GenNx360 targets companies with revenues between $50 and $500 million and $5 to $35 million of EBITDA. The Firm looks to invest $25 to $100 million per transaction. Specific areas of interest include industrial water treatment, specialty chemicals/engineered materials, industrial machinery/equipment components, agriculture products and services, global transportation component parts, aerospace/defense, oil/gas services and business services. GenNx360 Capital Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 10 of 12
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 6 of 7
Country (Ireland) 1 of 1
Year (2021) 1 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Appalachian Railcar Services

Eleanor, West Virginia, United States

Appalachian Railcar Services, Inc. is a provider of railcar repair services and a provider of industrial logistics services including certified tank and freight car repair, railcar cleaning, coating and lining services, mobile repair, on-site customer repair operations, switching operations, and railcar storage.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-08 Whitsons Culinary Group

Islandia, New York, United States

Whitsons Culinary Group is a provider of dining services to consumers and public and private organizations throughout the Northeast. Whitsons services include school nutrition, residential and healthcare dining, prepared meals, and emergency dining. Whitsons Culinary Group is based in Islandia, New York.

Buy -
SELLER

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2005
PE ASSETS 16.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 22 of 24
Sector (Transportation) 3 of 3
Type (Add-on Acquisition) 7 of 9
Country (Ireland) 1 of 1
Year (2021) 2 of 3
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-03 Precisely

Burlington, Massachusetts, United States

Precisely is a provider of data integrity software. The Company provides accuracy, consistency, and context in data for 12,000 customers in more than 100 countries. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Precisely is based in Burlington, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 IPS

Compton, California, United States

IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS' products are sold under a number of highly regarded brand names, including Weld-On, Watertite, Studor, Truebro, and Guy Gray. IPS was founded in 1954 and is based in Compton, California.

Buy -