RYE, N.Y. — Greenbriar Equity Fund II and affiliated entities have made an investment in GENCO Supply Chain Solutions in conjunction with GENCO’s merger with ATC Technology Corp., which was completed on Friday.
“This is an exciting time to make an investment in GENCO ATC and we look forward to working with Herb Shear, whom we have known and respected for nearly a decade, and his team,” said Jill Raker, managing director of Greenbriar Equity Group. “GENCO and ATC together form a formidable competitor in logistics as their combined capabilities in reverse solutions, repair, technology, process engineering and liquidation will create additional opportunities with existing and new customers across their end markets.”
GENCO has been a provider of third-party logistics solutions for more than 112 years, offering an array of high-quality, value-added services to a diversified group of Fortune 500 customers in a variety of end-markets. ATC provides comprehensive engineered solutions for logistics and refurbishment services to the consumer electronics industries and the light-, medium- and heavy-duty vehicle service parts markets. The newly combined company will have estimated annual revenue of $1.5 billion, approximately 10,000 teammates and grow to 120 operations.
“We are delighted to have Greenbriar as a partner and investor as GENCO ATC enters this new stage in its development,” added Herb Shear, GENCO ATC chairman, president and CEO. “I have had the opportunity to work with the Greenbriar team over a number of years and am impressed with the industry and operating expertise they bring to the table.”