Holding company to acquire Intelligrated
Permira has acquired Intelligrated in a deal said to be worth more than $500 million. The investment will allow Intelligrated to expand North American and global operations, the company said.
Intelligrated announced it has entered an agreement to be acquired by a holding company owned by Permira in a transaction at a valuation in excess of $500 million. Intelligrated’s management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company as part of the transaction and will continue to lead the company.
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. Intelligrated will remain headquartered in Mason, Ohio, a suburb of Cincinnati, and has operations throughout the United States and in Canada, Mexico and Brazil.
The investment will support the company’s growth opportunities, including further penetration of its customer base in North America, emerging markets expansion in partnership with its global customers, increased product offerings and global capabilities through investment and selective M+A, and an enhanced focus on aftermarket services.
The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2012.
- Edited by Chris Vavra, Control Engineering, www.controleng.com
Annual Salary Survey
After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.