![]() ![]() ![]() It was so integrated into the car manufacturers’ supply chain that whether they were producing 1,000 cars a week or 100 cars a week, they needed Syncreon to remain viable.”ĭevastated Chrysler, for example, owed Syncreon money-and loads of it. ![]() Despite making the investment “in the thick of the crises,” Blaylock adds, “we were able to do that because we could understand how sticky and important it was to the car manufacturers. The transaction, however, was completed at the height of the Great Recession, marked by an automotive industry meltdown in which two of its biggest customers-General Motors and Chrysler-were forced into bankruptcy. A Smart Move Made During the Great Recession After several rounds of negotiations with the Enrights, GenNx360 eventually acquired a 70% majority stake for a total of $300 million. It was owned by Michael and Brian Enright, who had merged their Dublin, Ireland-based trucking company with a Michigan-based logistics firm to form Syncreon in 2007. Syncreon perfectly fit GenNx360’s buyout model: a well-run, undervalued, family-owned business services company. The principals of GenNx360, led by Lloyd Trotter, the unflappable, adroit former GE executive, and Ron Blaylock, the ambitious, ultra-competitive investment banker, understood the company’s worth nearly a decade ago when it became an early acquisition of the firm. ![]() And ensuring Syncreon maximizes its value is none other than its owner: GenNx360 Capital Partners, one of the nation’s largest black-owned private equity firms. Managing the supply chain needs for corporate leviathans such as General Motors, Dell Computers, and Apple Inc., to name but a few, this global logistics company with 98 facilities in 20 countries plays a significant role in driving the automotive and tech sectors. Auburn Hills, Michigan-based Syncreon represents one of the most impactful companies that you’ve never heard of. ![]()
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