Material Handling Systems, a portfolio company of Thomas H. Lee Partners, has acquired Atronix Engineering, a controls systems integrator, and Advanced Production Systems (APS), a designer and assembler of control panels.
Material Handling Systems (MHS) was acquired by Thomas H. Lee Partners in April 2017. MHS provides engineering services and equipment, project management, and installation services to the parcel industry with design, implementation, and maintenance of turnkey material handling sortation and distribution systems. Customers of MHS include some of the top logistics and e-Commerce companies in the world. The company currently operates out of six facilities: four in Louisville, KY; one in Wilmington, OH; and the MHS Canada headquarters in Toronto. The company was founded in 1999 and is headquartered in Louisville (www.mhsinc.net).
“We are excited to welcome Atronix and APS to the MHS family, and believe that these acquisitions will further expand our geographical and customer footprint, product portfolio, and service offerings,” said Tony Mouser, Chief Executive Officer of MHS. “We have long-standing relationships with both Atronix and APS, and we are confident that a partnership with these fine companies will serve as a catalyst to further accelerate our growth, enhance our ability to serve our key customers, and pursue new business opportunities.”
Atronix’s controls and software are used in both factory automation and office automation in the material handling, warehouse distribution, automotive, and food & beverage markets. The company, led by President Tab Fischbach, was founded in 1992 and is based near Atlanta in Peachtree Corners, GA. The company has a second facility located near Toledo in Holland, OH (www.atronixengineering.com).
Advanced Production Systems (APS) specializes in electrical and pneumatic control panels which range in size from small wall mount units to multi-door electrical panels. The company’s products are used in a variety of applications in the food & beverage, automotive, material handling, metals, personal care products, and process control markets. APS, led by President Don Korfhage, was founded in 1986 and is based in Louisville (www.teamaps.com).
Thomas H. Lee Partners (THL) was founded in 1974 and is one of the oldest private equity investment firms in the United States. Industries of interest include consumer and healthcare, media and information services, and business and financial services. Since its founding, THL has raised approximately $22 billion of equity capital and acquired over 140 portfolio companies and completed over 360 add-on acquisitions. The firm is based in Boston (www.thl.com).
The acquisition of APS closed on October 2, 2017, and the acquisition of Atronix closed on October 31, 2017.
© 2017 Private Equity Professional | November 8, 2017
