Sanken Overseas makes strategic investment in CL Synergy Group

SANKEN Overseas yesterday announced that it has made inroads into the freight and logistics sector through an investment in CL Synergy.

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The statement however didn’t disclose the value of investment or the percentage of equity stake.

Sanken Overseas is a stalwart in the construction and real estate sectors, and the penning of an agreement from their end reaffirms the importance of the logistics sector to the economy. CL Synergy is a homegrown Logistics brand that is welcoming a new shareholder for the first time since its inception 21 years ago, which indicates its resolve to scale and grow beyond boundaries.

CL Synergy recounts that the journey towards attracting an investment commenced in the aftermath of obtaining approval to list on the Main Board of the Colombo Stock Exchange. Due to turbulent economic conditions, the directorship chose to seek a private placement instead. Sanken Overseas, with its deep Sri Lankan roots, strong work ethic and disciplined approach to business was seen as an ideal partner.