Olympus has quickly added on to MEI Rigging & Crating, the firm’s industrial services platform that it acquired last month, with the add-on acquisition of ProPack International.
ProPack is a provider of local, national, and international specialty freight packaging services for dangerous goods, nonhazardous and temperature sensitive goods, and artwork. The company’s packaging capabilities include single use and reusable industrial and specialty crating; moisture and vapor proof packaging; fiberboard boxes; steel, plastic and fiber drums; and plywood crates.
ProPack has packaged and shipped products ranging from large industrial equipment to computer servers and racking to motorcycles, pianos, artwork and antiques. The company was founded by Mike and Nancy Dooley in 1997 and is headquartered near Atlanta’s Hartsfield Jackson International Airport.
MEI is a provider of industrial services including rigging and machinery moving, millwrighting and mechanical installation, industrial storage, equipment crating and export packing. MEI’s customers are active in a range of industrial verticals including datacenters, semiconductors, and electric vehicles. The company, with more than 1,000 employees, moves all types of heavy and intricate machinery for its customers including one-off moves to entire plant relocations.
MEI, led by CEO Dan Cappello, is headquartered near Salem in Albany, Oregon, and has 17 operating locations across 13 states — Arizona, California, Delaware, Georgia, Maryland, Massachusetts, Nevada, North Carolina, Oregon, Pennsylvania, Texas, Utah, and Virginia. Following the closing of the ProPack transaction, the business will be integrated with MEI’s existing operations in Atlanta.
“We are thrilled to add this new service line to our already rapidly growing Atlanta rigging business,” said Mr. Cappello. “With this acquisition, MEI is now one of the premier full-service rigging and crating providers in the region.”
Olympus invests in a range of industries but has a specific interest in business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. The firm was founded in 1988 and is based in Stamford, Connecticut.
Olympus acquired MEI from Dorilton Capital in August 2023 (Olympus Does Heavy Lifting with Buy of MEI Rigging & Crating). Managing Partner Dave Cardenas and Principal Sam Greenberg lead the MEI investment for Olympus.
© 2023 Private Equity Professional | September 12, 2023
