DP World acquisition

100% of syncreon has been acquired by DP World for US$1.2 bn. Global logistics provider syncreon is specialises in the design and operation of complex supply chains for the automotive and technology industries. It provides warehousing and distribution solutions through a variety of manufacturing, export packaging, transportation management, reverse/repair and fulfilment services.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “We are delighted to announce the acquisition of syncreon, which adds significant strategic value to DP World given its strong logistics solutions capability, and will allow DP World to deliver end-to-end solutions to cargo owners.

“syncreon’s complex solutions capability brings strong long-term relationships with cargo owners, which fits with DP Worlds vision to provide smart tech-led supply chain solutions to enable trade across key markets. syncreon’s exposure to the sizeable, fast-growing technology and automotive industries offers significant growth opportunities over the medium to long term. We aim to build on this platform to deliver greater scale and provide compelling value add supply chain solutions to cargo owners across a wider market.”

syncreon has a global presence across 91 sites in 19 countries. The group focuses on two key segments. Firstly, large technology customers to enable eCommerce and omni-channel fulfilment and aftermarket services, and secondly automotive companies for reception of materials, warehousing, inventory management, kitting/sequencing for line feeding, and export packaging. This is complemented by a growing presence serving customers in Consumer Goods, Healthcare and Industrial Markets.

In FY2020, the group reported revenue of US$1.1bn with 57% generated in EMEA (predominantly Europe) and 42% in North America.