Material handling tech firm Intelligrated acquired for $500-million
by Canadian Manufacturing Daily Staff
Deal expected to close in third quarter of 2012
Cincinnati, Ohio—Automated material handling provider Intelligrated is set to be acquired in a deal worth more than $500-million, the company announced.
The agreement is between Intelligrated and an undisclosed holding company owned by Permira funds.
Intelligrated management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company and will continue to run the helm.
With operations in the U.S., Canada, Mexico and Brazil, Intelligrated designs, manufactures and installs automated material handling stems, including conveyors, robotics and warehouse control systems.
Subject to regulatory approvals and closing conditions, the deal is expected to close in the third quarter of 2012.