Summit invests $67m in Syncron

According to a report in Swedish daily Dagens Industri, the investment from Summit is intended to facilitate the company's growth and preparations for a future IPO, with Syncron aiming to list within two to three years.

Summit Partners held a final close for its second growth equity fund on its €700m hard-cap in July 2017. The GP's previous growth equity fund closed on €1.05bn in April 2008. It was 93% invested as of September 2016, according to Unquote Data.

Company
Established in 1990 and headquartered in Stockholm, Syncron is an enterprise software company. It offers an integrated SaaS platform to optimise the performance of after-sales service supply chains and enables global manufacturers to evolve to subscription-based uptime service models. Syncron employs a staff of 330 employees across 10 offices globally.

People
Summit Partners – Antony Clavel (principal).
Syncron – Anders Grudén (CEO); Dag Sjokvist (CFO).

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