BB&T Capital Markets Serves As Exclusive Financial Advisor to Syngin Technology in Its Majority Sale to Wallenius Wilhelmsen ASA
On July 3, 2018, Syngin Technology, LLC (“Syngin”) sold 70% of its membership interests to Wallenius Wilhelmsen ASA (“WWL”). Syngin's current owners will continue to own 30% of the company and remain highly involved in managing the business. BB&T Capital Markets served as the exclusive financial advisor to Syngin.
About the Companies
Syngin is a leading provider of automated logistics solutions for the disposition of used vehicles through an electronic marketplace. Syngin streamlines the movement of vehicles handled by fleet leasing companies and remarketers to auction houses through a virtual marketplace that matches these stakeholders with transportation providers and repair centers. Using a holistic value chain approach and applying re-engineered processes coupled with an integrated software platform, Syngin enables highly efficient and cost-effective transportation for the unified eco-system around used fleet vehicles.
The Wallenius Wilhelmsen group (OEX: WWL) is a market leader in roll-on / roll-off (RoRo) shipping and vehicle logistics, transporting cars, trucks, rolling equipment and breakbulk around the world. The company operates around 130 vessels servicing 32 trade routes to six continents, and operates a global inland distribution network, 77 processing centers, and 13 marine terminals. The Wallenius Wilhelmsen group consist of Wallenius Wilhelmsen Ocean, Wallenius Wilhelmsen Solutions, EUKOR and ARC. The group is headquartered in Oslo, Norway with 7,500 employees in 29 countries worldwide.
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.