Wednesday 23 October 2019

Harleys add the old va-va-voom in to €750m-valued Syncreon

Nick Webb

Harley Davidson motorbikes were one of the engines in the growth of Limerick entrepreneurs Brian and Michael Enright's automotive logistics firm Syncreon, which has been put up for sale with a price tag of €750m. New York-based buyout firm GenNx360 Capital Partners is said to be working with JPMorgan Chase and Morgan Stanley to find a buyer.

Earlier this year, the Sunday Independent revealed that the Enrights would share in a near-€75m windfall after a refinancing at the Michigan-headquartered firm. Private equity firms have been touted as likely buyers of the firm.

Last year buyout firm GenNx360 Capital took a majority stake in the firm, having initially bought a 33 per cent stake in 2009. The Enright family, which owns shares through two trusts, may make €350m from a sale.

Irish Independent

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