Warburg Pincus has agreed to acquire industrial equipment maker Duravant LLC from Odyssey Investment Partners. The deal comes as the manufacturing sector is seeing robust activity.
Downers Grove, Illinois-based Duravant manufactures food processing equipment, conveyor belts and automated packaging systems under the Afoheat, Arpac, Fischbein, FMH Conveyors, Hamer-Fischbein, Mespack, and Marlen International brands. The target serves the food and beverage, e-commerce, agriculture, consumer, pharmaceuticals and industrial sectors. Financial terms of the acquisition were not disclosed.
Other deals involving manufacturing equipment companies include: Tech Air’s, backed by CI Capital Partners, completed deal to buy two welding suppliers; Berkshire Hathaway Inc.’s purchase of Wilhelm Schulz GmbH; Graycliff Partners’ backing sheet maker A-1 Machine Manufacturing Inc.; Liberty Hall Capital Partners’ acquisition of aerospace parts supplier ZTM Inc.; and LFM Capital’s investment in hydraulic clamps maker Vektek LLC
Jefferies, Robert W. Baird & Co. and Latham & Watkins LLP are advising Duravant. William Blair and Cleary Gottlieb Steen & Hamilton LLP are advising Warburg Pincus.