London Firm Buys Radnor Supply Management Company for $145 Million

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Image via synovos.com.

A Radnor supply chain management services company is being bought up by a London firm for $145 million, writes Michelle Caffrey for Philadelphia Business Journal.

Synovos, rebranded from Storeroom Solutions in 2016, will be sold to Electrocomponents plc next quarter.

The company employs about 125 people at its Radnor headquarters and accounting office in Montrose. It has 600 people in 200 locations across the country.

The deal will not affect employees.

Synovos CEO Carlos Tellez will still head the company under the Synovos brand.

“We’re joining a very highly respected organization that has a strong presence across the world and sees the value of teaming up for our collective expertise and reach within the Global market,” Tellez said in a statement.

Synovos manages maintenance, repair and operations procurement spending, about $500 million worth, for its customers.

It expects to close 2020 with $90 in revenue, with 90 percent of that coming from U.S.-based companies.

The sale to Electrocomponents will give Synovos access to the global supply chain market and industry expertise.

Electrocomponents’ acquisition will boost its position in life sciences, consumer health and chemicals.

Read more about the Synovos acquisition at Philadelphia Business Journal.

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