Electrocomponents plc has agreed to acquire Synovos, Inc.
Having worked with Electrocomponents from the beginning of the process, Lincoln acted as exclusive buy-side advisor, working closely with the team to provide market and valuation expertise as well as assisting in the negotiation and due diligence phases of the transaction.
Headquartered in London, United Kingdom, Electrocomponents is a global omni-channel solutions partner for industrial customers and suppliers, providing a wide range of industrial and electronic products and services. Synovos is a leader in integrated supply, managing procurement spend, inventory and strategic sourcing for its customers. The business has a strong competitive position in the North American market, underpinned by a proprietary technology platform. It has underlying revenue of $90 million for the year ending December 31, 2020 and will be acquired for an agreed consideration of $145 million on a debt-free, cash-free basis.
The acquisition of Synovos complements Electrocomponents’ existing IESA division, which provides MRO services and is headquartered in the UK, improving the company’s ability to support corporate customers globally. Synovos manages around $500 million of MRO procurement spend and approximately three million stock-keeping units (SKUs) for over 80 corporate customers, which are primarily in the pharmaceutical, consumer health, chemicals and food and beverage sectors.
Alex Masters, Managing Director in Lincoln’s London office, noted, “It was a pleasure working with the Electrocomponents team on this important, cross-border transaction. This combination will create a global leader in the MRO industry, and we look forward to Electrocomponents’ continued growth and success.”
Brad Keyworth, Managing Director in Lincoln’s Chicago office and head of its distribution team, commented, “We are delighted to have represented Electrocomponents on this key, strategic transaction. We offer our congratulations to Electrocomponents and Synovos and are confident that this partnership will allow both companies to continue to provide a world-class integrated supply offering to their customers.”
Lincoln’s global team partnered with us throughout all stages of the process to deliver a successful outcome for all parties. We value their deep sector expertise, geographic footprint and strong process management.
Meet our Senior Team
View More Transactions
Lincoln International is pleased to announce that it has represented Orva in its partnership with Trilantic North America
Lincoln International and Oliver Wyman acted as financial and business advisors to the German Economic Stabilization Fund in a Euro 1.2 billion financing package to TUI AG
Lincoln International has represented Turn/River Capital and the other shareholders of Huddle on its sale to Ideagen plc, a leading supplier of regulatory and compliance software
Lincoln International is pleased to announce that Jade Leaf, LLC, a high-growth brand of organic Japanese matcha green tea products, was acquired by HPH II Investments Master Fund, LP together with its related entities