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 is pleased to have advised Gibson Holdings Inc on the intended disposal of its 54.65% shareholding in Tokyo Stock Exchange listed TEAC Corporation to Global Acoustic Partners LLC through a public tender offer by Global Acoustic Partners LLC
Lincoln International is pleased to announce that management and BPE have acquired Dätwyler Sealing Technologies, a leading manufacturer of rubber-based extruded solutions in the constructions, tunnelling and track superstructure segments
Lincoln International is pleased to announce that FMG Suite, LLC, a portfolio company of K1 Investment Management, LLC, has been acquired by Aurora Capital Partners
Lincoln International is pleased to announce that Gruppo Sapio has acquired a majority stake in Homeperf . Parquest Capital, BNP Paribas Développement and Arkea Capital will reinvest in the business alongside Sapio