Lincoln International represents New State Capital Partners in the sale of Central Conveyor Company to U.S. Tsubaki Holdings, Inc., a subsidiary of Tsubakimoto Chain Co.
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that New State Capital Partners (“New State”) has sold Central Conveyor Company (“Central Conveyor” or the “Company”) to U.S. Tsubaki Holdings, Inc., a subsidiary of Tsubakimoto Chain Co. (“Tsubaki”), for approximately $140 million.
Established in 1993, Central Conveyor is a leading global provider of automotive and industrial conveyor systems, conveyor system integration, custom conveyor design and controls automation solutions. As a turn-key systems integrator, Central Conveyor designs, engineers and implements right application, right fit automated systems to provide customers with a competitive advantage across the automotive, parcel & logistics and warehouse & distribution markets. The Company is headquartered in Wixom, MI with additional facilities in Bessemer, AL and Kansas City, MO. Since New State’s investment in December 2014, the Company has experienced significant growth, increasing top line revenues by 374 percent since July 2014, launching new divisions in controls and tooling, acquiring original equipment manufacturer KCI, doubling its number of employees to 200 and building a new corporate headquarters in Wixom, MI.
Lincoln acted as the exclusive financial advisor to New State and Central Conveyor, working closely with management and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Lincoln InternationalLincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and joint ventures and partnering advisory services on a wide range of transaction sizes. With twenty offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest.
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