newsworthy
Intelligrated to be acquired
by private equity firm
Intelligrated, a Mason, Ohio-based provider of
automated material handling products and services, will be acquired by a holding company
owned by the private equity firm Permira Funds.
This transaction is valued at more than $500
million.
Intelligrated’s management, headed by
founders Chris Cole and Jim McCarthy, will continue to lead the organization and maintain a significant stake in the company, Intelligrated said.
The company will remain in Mason. The transaction is expected to close in the third quarter.
Intelligrated said in a statement that the capital
infusion from Permira, combined with the equity
firm’s strong overseas connections, will allow it to
expand its North American presence and penetrate foreign markets. The acquisition will also
help Intelligrated increase its product offerings
and international capabilities through investment
and selective mergers and acquisitions and
enhance its position in aftermarket services.
Cole said in an interview that Intelligrated was
looking for a partner with the sizable capital posi-
tion and global platform to “help us grow to
another level.”
He said Intelligrated would leverage Permira’s
resources to expand both domestically and inter-
nationally.
Between 20 and 30 percent of Intelligrated’s
overall revenue comes from outside the United
States. Canada alone accounts for about 20 percent of the company’s overall revenue, according
to Cole.
Permira is a London-based private equity firm
with an expanding U.S. presence. Founded in
1985 with a focus on European transactions,
Permira entered the United States in 2002 when it
opened an office in New York. It opened a second
office, in Menlo Park, Calif., in 2008.
Intelligrated designs, manufactures, and installs
complete material handling automation solutions
for the warehousing, distribution, consumer
product manufacturing, postal, and parcel markets. Solutions include conveyor systems, sortation systems, palletizers and robotics, order fulfillment systems, warehouse control software, and
advanced machine controls. ;
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KOOISTRA
WOLLENBERG
MAIER
FEEMSTER
HARRISON
O’BRIEN
