Permira completes acquisition of global material handling company
European-based private venture capital group Permira has completed its acquisition of assets from end-of-line packaging and material handling systems manufacturer Intelligrated in a US$500-million. The deal will see Intelligrated continue to operate from its existing headquarters in Mason, Ohio with company founders Chris Cole and Jim McCarthy keeping their senior executive management positions and a ‘significant stake’ in the company.
According to Permira, the new investment will help the company—a well-established global supplier of integrated material handling solutions for the packaging, warehousing, distribution, consumer products manufacturing and other industries—to pursue growth opportunities. Intelligrated aims to gain more market share in North America, expand in emerging markets, and strengthen its aftermarket services.
“This is a very exciting new chapter for our company, and we are thrilled that a world-class investment firm such as Permira has recognized the growth potential in our business,” says Intelligrated’s chief executive officer Chris Cole. ”This is a strong endorsement for Intelligrated and our highly talented workforce, and we look forward to taking advantage of the unique global perspective and industry insight that the Permira funds will bring.”
Intelligrated has operations throughout the U.S., Mexico, Brazil and Canada.
For more information, visit www.intelligrated.com.