Private equity-backed Maxcess International Corp. is buying the guiding systems business of Fives North American Combustion Inc.
Cleveland-based Fives provides guiding technologies for manufacturing. The company's guiding systems business should help Maxcess broaden its product offerings and provide customers with more sales and service support.
The business will be integrated with Fife Guiding Systems, Maxcess' material guiding unit. Combined the group will expand its footprint in the metals, tire and rubber, converting, textiles and other markets.
Maxcess is backed by San Mateo, California-based private equity firm Bertram Capital, which says it plans to keep growing Maxcess organically and through add-on acquisitions. The firm has about $850 million in capital under management. For more from Bertram, watch our video interview with Michelle Chao.