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
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
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