Carrollton, TX, September 01, 2012 --(PR.com
)-- G&T Conveyor Company Inc. (“G&T”) is pleased to advise that it has executed a formal purchase agreement with Daifuku Webb Holding Company (“Daifuku Webb"), a subsidiary of Daifuku Co., Ltd., for the sale of Elite Line Services, LLC (“ELS”). Under the agreement, Daifuku Webb will acquire 100% of the equity of ELS.
This transaction is subject to final governmental approval under CFIUS regulations. The transaction is expected to be completed within the fourth quarter of 2012.
ELS provides its airline and airport customers with the highest, most consistent level of operations and maintenance support for its baggage handling systems, passenger boarding bridges and ground support equipment.
ELS is headquartered in Carrollton, TX and operates in over twenty of the nation’s busiest airports. Since its original acquisition by G&T in 2002, ELS has more than quadrupled its annual service volume and grown its base of skilled technicians to exceed 800 employees.
About Daifuku Co., Ltd.
Daifuku Co., Ltd. is the world's top manufacturer and supplier of automated material handling systems and software to the automotive, semiconductor, and general industry markets. Daifuku is headquartered in Osaka, Japan, with sales and service offices throughout the world. The Company was founded in 1937.
About Daifuku Webb Holding Company
Daifuku Webb Holding Company, a subsidiary of Daifuku Co. Ltd., is a leading developer of innovative material handling technology such as Automatic Guided Vehicles (AGVs), conveyors, baggage handling systems, bulk handling systems and Automated Storage and Retrieval Systems (AS/RSs). Daifuku Webb specializes in the design, engineering, installation and support of integrated systems used in the automotive, airport, food/beverage, bulk handling, warehousing and manufacturing industries. Daifuku Webb is headquartered in Farmington Hills, MI., with manufacturing locations in Reynoldsburg, Ohio; Harbor Springs and Boyne City, Mich.; Carlisle, S.C.; Canada; India; and China.
About G&T Conveyor Company, Inc.
G&T Conveyor Company, Inc. is the largest privately held turnkey Baggage Handling Systems manufacturer in the United States. G&T is headquartered in Tavares, Florida and is the parent company of The Horsley Company (Salt Lake City, UT) and Star Systems (Carrollton, TX). G&T is majority owned by Brynwood Partners, a private equity firm based in Greenwich, Connecticut.
About Brynwood Partners
Founded in 1984, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the following sectors: (a) consumer products, (b) light manufacturing with low capital intensity, and (c) service businesses. Brynwood Partners is currently managing over $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com