Port Vale owners’ firm is reportedly purchased for £180m
Media reports say that Synectics Solutions, the company owned by Port Vale FC owners Carol and Kevin Shanahan has been sold after a “feverish” bidding process.
The Insurer website reports:
UK fraud data firm Synectics Solutions has been sold to Synova Capital at a high benchmark valuation thought to be in the region of £180mn ($228mn) after a feverish bidding process involving at least a dozen private equity companies, The Insurer can reveal.
The Shanahans purchased Port Vale FC from Norman Smurthwaite for more than £5 million in May 2019 following months of negotiation.
Their business, Synectics Solutions has been delivering fraud and financial crime prevention solutions since 1992. Their offices are adjacent to the Vale Park stadium.
Synova Capital is a UK-based “growth investor” which manages more than £1.7 billion in capital.
Gerald Siery
26th February 2024 @ 3:36 pm
Good luck to Carol & Kevin worked hard for their money & deserve the rewards.
Marco polo
26th February 2024 @ 3:52 pm
Club in safe hands.
Chris Barlow
26th February 2024 @ 5:08 pm
Congratulations to the Shanahan’s, they have clearly worked long and hard to build their business to this level and now they can reap their rewards. We should remember that if it were not for them we would probably not have a football club of any worthwhile description. I think we will all be waiting for a statement and watching their next steps with interest !!!
Geoff Meadowcroft
26th February 2024 @ 5:40 pm
What a naive comment to say the club is in good hands ….that money is Shanahans not Vale money …nor are we likely to see it
John Smith
26th February 2024 @ 6:10 pm
Shame the Synectics staff don’t know that the company they work for has been bought out though.
Mytlemeboy
26th February 2024 @ 6:38 pm
Marco Polo, I think that means their company has been bought. Whether the new owners themselves are interested in the Vale or the Shanahans invest new money as a consequence is quite another matter . . .
geoff
26th February 2024 @ 7:24 pm
i.7 billion? cant we get them as a sponser?
Ian Mountford
26th February 2024 @ 7:59 pm
Well done the Shanahans they’ve done well, I just hope Carol is not silly enough to let Flitcroft see any of this money.
Marco polo
26th February 2024 @ 9:08 pm
My comment , club in safe hands was a reference to them the Owners . After our recent track record , they r aren’t that bad r they .
Luke A
26th February 2024 @ 10:08 pm
As usual Synectics staff being told is an after thought.
Rob Fielding
26th February 2024 @ 10:24 pm
To be fair this is an unsubstantiated media report, maybe they can’t announce anything until contracts are signed and it’s official.
Warren
27th February 2024 @ 3:46 am
I have been interested in the National Fraud Initiative and other counter fraud services for 35 years. It’s part of what I did before returning in 2022. I can see why, at their age they want to sell up. But I’m sort of sad.
However, I was sort of gobsmacked at the appointment of Darren Moore and being more cash rich may explain this. It must be good for Port Vale overall – if actually correct.
Peter Junge
27th February 2024 @ 10:40 am
Well done them they worked hard.wondering why though
Steve wells
27th February 2024 @ 12:56 pm
I suspected Carol may be a little preoccupied, new manager, etc as I was requested to do some emergency remedial work at the request of the police, to the property on the Brampton some months ago ,out of normal working hours,and they have yet to contact me.
Back stage
27th February 2024 @ 2:43 pm
It’s confirmed to be true and yes agree with Luke A that its always the staff last despite what they promote…. That’s why they have a high churn and loos great staff to other local companies.
Steve
27th February 2024 @ 2:53 pm
Very worrying, what does it mean for the Vale, one assumes Synetic Solutions will no longer be involved in the Vale
Antwan
27th February 2024 @ 3:33 pm
It’s gonna cost port vale that paying that flop of a manager over five and a half years ha ha
Rob Fielding
27th February 2024 @ 4:46 pm
But @Backstage it’s not an official announcement – most companies don’t respond to media rumours and for all we know there could be a confidentiality clause where they are not allowed to say anything till it is officially done (which it isn’t – it’s just a website report, not a statement from the company)