New State Capital Partners has sold Central Conveyor to U.S. Tsubaki Holdings
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 and logistics, and warehouse and distribution markets. The Company is headquartered in Wixom, Michigan, with additional facilities in Bessemer, Alabama, and Kansas City, Missouri. 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, Michigan.
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.
Meet our Senior Team
View More Transactions
Lincoln International advised Deutsche Beteiligungs AG on its sale of BTV Multimedia Group to Netceed, a portfolio company of Cinven and Carlyle
Lincoln International advised Hallmarq Veterinary Imaging, a portfolio company of August Equity, on its refinancing
Lincoln International advised Deutsche Private Equity and private shareholders on its sale of a majority stake in Green Mobility Holding to Rivean Capital
Lincoln International advised Founder, private shareholders, TUI Group and Brockhaus Private Equity on its sale of Peakwork to Vela Software, a subsidiary of Constellation Software
Lincoln International advised Medisolv on receiving a strategic investment from BVP Forge
Lincoln International advised toob in raising £300m of capital to support its network expansion
Lincoln International advised Colmec Group, a Scandinavian distribution platform for truck tire lifecycle management, on its sale to Norvestor
Lincoln International advised Ambienta and other shareholders on the sale of Next Imaging to Azimut Libera Impresa
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.