Houlihan Lokey Advises Synovos

Houlihan Lokey is pleased to announce that Synovos, Inc., a leading technology-enabled provider of integrated MRO supply chain outsourcing and asset optimization services, has been acquired by Electrocomponents plc (LSE:ECM) for $145 million. The transaction closed on January 12, 2021.

Headquartered in Radnor, Pennsylvania, Synovos, Inc., is a professional services firm offering a comprehensive suite of market-driven, technology-enabled solutions solving MRO supply chain challenges for enterprise clients across a diverse set of attractive end markets. The company pioneered the “integrated supply” model, taking a strategic approach to MRO supply chain and asset optimization, to maximize facility uptime while reducing the overall costs for clients through strategic sourcing and procurement; logistics and inventory management; data management; storeroom operations; and engineering and consulting services. Synovos manages more than $450 million of MRO spend and 3 million SKUs at nearly 200 locations globally for a blue-chip roster of clients across multiple end markets, including life sciences, consumer health, chemical, manufacturing, and more.

Headquartered in London, United Kingdom, Electrocomponents plc is a global, omnichannel solutions partner for industrial customers and suppliers who are involved in designing, building, or maintaining industrial equipment and facilities. The company stocks more than 500,000 industrial and electronic products, sourced from over 2,500 leading suppliers. With operations in 32 countries, Electrocomponents trades through multiple channels and ships more than 50,000 parcels a day, providing a wide range of value-added solutions to 1 million customers globally.

This transaction underscores Electrocomponents’ commitment to building a best-in-class, global integrated supply platform by combining Synovos with IESA Ltd., a wholly owned subsidiary acquired in 2018, which bolstered Electrocomponents’ sourcing, transaction processing, and inventory and store management capabilities.

Houlihan Lokey served as the exclusive financial advisor to Synovos and assisted in marketing, structuring, and negotiating the transaction on its behalf. This deal exemplifies the continued momentum of the firm’s Transportation & Logistics practice and long-standing track record of delivering exceptional outcomes for our clients.