Wincove Builds Material Handling Platform

Wincove Builds Material Handling Platform

Aloi Materials Handling & Automation, a portfolio company of Wincove Private Holdings, has acquired Mainstream, Inc.

Mainstream is a provider of preventative maintenance, repair services, integration and installation of large conveyor systems, utilized in parcel distribution facilities. The company is headquartered south of Louisville in Shepherdsville, Kentucky and has over 100 field technicians located throughout the United States.

Aloi is a provider of material handling and automation services to companies operating in the package handling, grocery, food & beverage, industrial and automotive markets. The company’s services include the integration of equipment, robotics and controls – including automated packaging lines, robotic and conventional palletizing, controls, conveyor systems, cranes and hoists – to improve workflow, optimize safety, and reduce costs; as well as ongoing maintenance of material handling and automation systems.

Aloi is a certified FANUC and Universal Robots integrator. The company was founded in 1977 and has facilities in Rochester (headquarters) and Corning, New York with a network of technicians operating in more than 30 states nationwide.

In April 2019, Aloi acquired Automated Cells & Equipment (ACE), a provider of robotic systems integration services. ACE is based in the upstate New York city of Painted Post.

Wincove Capital invests in lower middle-market companies that have annual revenues of under $100 million. The firm, with offices in Boston and New York, was founded in 2008 and is led by partners Michael McGovern and John Lenahan.

TCF Capital Funding provided $14 million in secured financing to support Aloi’s buy of Mainstream. “We are pleased to expand our relationship with Wincove and Aloi by providing senior financing to acquire Mainstream, which also included Aloi’s recent acquisition of Automated Cells & Equipment,” said Ed Ryczek, senior vice president at TCF Capital Funding. “The three combined companies create a full-service provider of material handling and automation solutions, from initial systems integration to the ongoing service and maintenance of the equipment.”

Chicago-based TCF provides cash flow and asset-based lending to lower middle-market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.

© 2020 Private Equity Professional | January 31, 2020

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