syncreon Completes Purchase of Compuspar

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AUBURN HILLS, Mich., Feb. 2, 2011 /CNW/ -- syncreon, a global provider of integrated logistics services and highly customized supply chain solutions, announced today that it has acquired 100% of Compuspar. The terms of the transaction are not being disclosed.

Barcelona, Spain based Compuspar is a supply chain services company providing repair, warranty and reverse logistics solutions to the hi-tech industry. The transaction provides syncreon 18 additional facilities, and a strengthened global footprint throughout Europe, Asia-Pacific, North and South America, and more than 900 employees. In addition, this transaction strengthens syncreon's service offering in key target markets - USA, Poland and Brazil, expands mature markets served to include Spain, France and Italy, and expands the company's technology service offering into new markets for syncreon in China, Australia and Mexico.

Compuspar had revenues of EURO 41m in 2010 and had been majority owned by the Serra family from Barcelona. Brian Enright, President & CEO of syncreon, said, "We are extremely pleased with this transaction as it allows us to increase the breadth of syncreon's service offering to individual customers and it creates new opportunities as we move forward, both by increasing our capability in reverse logistics and our global reach in the technology segment. This acquisition builds upon syncreon's core differentiator - flexible and customized solutions for our customers and Compuspar's strong reverse logistics capability complements syncreon's core forward logistics capability".

Jordi Serra, founding shareholder and CEO of Compuspar said that, ''Compuspar is an excellent fit for syncreon and will allow Compuspar to offer it's customers a vastly expanded reverse logistics service offering. The combination of Compuspar's technical capabilities will allow syncreon to offer greater technical know -how also in its forward logistics solutions and offer joined up reverse solutions to its customers".

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    About syncreon
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syncreon is a global contract logistics and supply chain management company that uses its asset-light business model to provide specialized transportation, inbound, outbound, and fulfillment logistics services. These services are customized and fully integrated into their customers' supply chain and final end-client delivery. syncreon is a global business with its operational headquarters in Auburn Hills, MI. syncreon has activities in 20 countries, with over 75 facilities and approximately 10,500 employees. syncreon is owned by Irish businessmen Michael & Brian Enright and New York based private equity firm, GenNx360 Capital Partners. For more information please visit, www.syncreon.com.

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    About Compuspar
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Compuspar, founded in 1984, is a supply chain services company specialized in implementing reverse logistics and repair solutions for customers in the hi-tech industry. The company handles (storage, repair, rework and distribution) approximately two million units annually, including complete reverse logistics and warranty management solutions. For more information please visit, http://www.compuspar.com/.

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    About GenNx360 Capital Partners
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GenNx360 Capital Partners is committed to deliver superior returns to investors in all its portfolio companies. The firm acquires companies with proven and sustainable business models in expanding industries and implements the required operating changes to deliver cost efficiencies and accelerated growth opportunities. The firm's proven business methodology is based on more than 100 years of partner experience successfully running global businesses. For more information please visit, www.gennx360.com. GenNx360 has been an investor in syncreon since March 2009.

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    CONTACT: Kenneth Pocius, +1-248-377-6207



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SOURCE syncreon

For further information: Kenneth Pocius, +1-248-377-6207 Web Site: http://www.syncreon.com

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