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M&A Deal Summary

Duravant Acquires T-Tek Material Handling

On August 23, 2024, Duravant acquired machinery company T-Tek Material Handling from Holleway Capital Partners and Capital For Business

Acquisition Highlights
  • This is Duravant’s 12th transaction in the Machinery sector.
  • This is Duravant’s 10th transaction in the United States.
  • This is Duravant’s 1st transaction in Alabama.

M&A Deal Summary
Date 2024-08-23
Target T-Tek Material Handling
Sector Machinery
Buyer(s) Duravant
Sellers(s) Holleway Capital Partners
Capital For Business
Deal Type Add-on Acquisition

Target

T-Tek Material Handling

Montgomery, Alabama, United States
T-TEK Material Handling is a manufacturer of high-speed palletizing, depalletizing and conveying systems for multiple industries including the beverage industry. The company also design, service, and support high-speed pallet sortation and repair systems. T-Tek Material Handling was founded in 1996 and is based in Montgomery, Alabama.

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Buyer(S) 1

Buyer

Duravant

Downers Grove, Illinois, United States
Category Company
Sector Machinery
DESCRIPTION

Duravant is a provider of highly engineered automation equipment and related aftermarket solutions for packaging, material handling, and food processing applications. Duravant designs and assembles mission-critical equipment, including form-fill-seal machines, robotic palletizers, conveyors, and thermal processors, primarily serving the food and beverage, e-commerce, distribution, and agriculture end-markets. Duravant is based in Downers Grove, Illinois.

DEAL STATS #
Overall 19 of 21
Sector (Machinery) 12 of 13
Type (Add-on Acquisition) 17 of 19
State (Alabama) 1 of 1
Country (United States) 10 of 10
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-27 Henneken

Bad Wünnenberg, Germany

Henneken is a manufacturer of protein processing solutions, that designs and builds innovative equipment including vacuum tumblers, tenderizers, injectors and brine mixers that deliver higher yields and improved product quality for meat, poultry, and seafood processors. Henneken was founded in 1977 and is based in Bad Wünnenberg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-23 POSS Design

Oakville, Ontario, Canada

POSS Design designs and builds mechanical separation equipment, ancillary products and turnkey systems that maximize recoverable protein yields for high volume processors of beef, pork, chicken, turkey, and other meats. POSS Design is based in Oakville, Onatario.

Buy -

Seller(S) 2

SELLER

Holleway Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Holleway Capital Partners is a private investment firm focused on investing in and acquiring lower middle-market, Midwest US-based companies in the manufacturing, distribution, and services sectors. The Firm looks for opportunities where ownership is looking for liquidity. Target companies typically exhibit $10 to $100 million of revenue and up to $10 million of EBITDA. Holleway Capital Partners was formed in 2016 and has offices in St. Louis, Missouri and Omaha, Nebraska.

DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-26 Braner

Schiller Park, Illinois, United States

Braner is a specialist in the design and construction of ultra-precision high-performance flat rolled coil processing and automated coil handling systems. Braner’s highly engineered systems process carbon steel, brass, copper, aluminum, stainless and electrical steels, among others, to precise width, length and gauge tolerances. Braner was founded in 1956 and is based in Schiller Park, Illinois.

Buy -
SELLER

Capital For Business

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1959
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Capital for Business (CFB) is a private investment firm focused on providing junior capital to growing lower middle-market companies with at least $10 to $100 million in sales. CFB targets businesses serving niche consumer, commercial, distribution, manufacturing, and service markets throughout the United States. Funds are typically used to support management buyouts, leveraged buyouts, recapitalizations, corporate divestitures, growth financings, and going-private transactions. CFB will not invest in start-ups, turnarounds, unproven technologies, biotech, real estate, and financial institutions. Capital for Business was founded in 1959 and is headquartered in St. Louis, Missouri.

DEAL STATS #
Overall 21 of 21
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 9 of 9
State (Alabama) 2 of 2
Country (United States) 21 of 21
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 Central States Bus Sales

Fenton, Missouri, United States

Central States Bus Sales is a distributor for several manufacturers of buses and related equipment in Missouri, Illinois, Tennessee, Kentucky, Arkansas and Alabama. CSBS has a longstanding relationship with Blue Bird, a school bus manufacturer with gas, diesel, low- and zero-emission school buses fueled by propane and natural gas, and electric-powered (EV) buses. Central States Bus Sales is based in Fenton, Missouri.

Sell -
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