Investment Summary

May River Capital and Northstar Capital Exits Automated Handling Solutions

On January 15, 2025, Akona invested in machinery company Automated Handling Solutions from May River Capital and Northstar Capital

Investment Highlights
  • This is Akona’s 3rd transaction in the Machinery sector.
  • This is Akona’s 3rd transaction in the United States.
  • This is Akona’s 1st transaction in Illinois.

Investment Summary

Date 2025-01-15
Target Automated Handling Solutions
Sector Machinery
Investor(s) Akona
Sellers(s) May River Capital
Northstar Capital
Deal Type Merger

Target

Automated Handling Solutions

Chicago, Illinois, United States
Automated Handling Solutions is a provider of automation solutions, as well as specialized material handling equipment such as enclosed conveyor systems. AHS’ products serve customers in regulated end markets such as food and beverage, pharmaceutical, nutraceutical, specialty chemical, and general industrial processing. Automated Handling Solutions is based in Chicago, Illinois.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Investor(S) 1

Investor

Akona

Monroe, North Carolina, United States

Category Company
Founded 2019
Sector Machinery
DESCRIPTION

Akona designs, manufactures, and services a broad suite of equipment and aftermarket parts and service for material processing (mixers, dryers, screeners, sifters, etc.) and material handling (conveyors, loaders, dischargers, controls, etc.) applications. The company serves customers in regulated end markets such as food and beverage, pet food, pharmaceutical, nutraceutical, and specialty chemicals, through its Cablevey, Kason, Marion, and Spiroflow trade brands. Advanced Material Processing was founded in 2019 and is based in Monroe, North Carolina.


DEAL STATS #
Overall 3 of 3
Sector: Machinery M&A 3 of 3
Type: Merger M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-04 Kason

Millburn, New Jersey, United States

Kason Corp. is a manufacturer of screening and processing equipment for bulk solid materials and slurries including a complete line of vibratory, centrifugal, and static screening equipment for solids/solids and solids/liquids separations as well as a complete line of circular vibratory fluid bed dryers, coolers and moisturizers, and static sieves. Kason was founded in 1967 and is based in Millburn, New Jersey.

Buy -

Seller(S) 2

SELLER

May River Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

May River Capital is a Midwest US-based private equity firm focused primarily on control investments in profitable mid-sized companies located throughout North America. The Firm targets management buyouts, divestitures, recapitalizations, and ownership succession situations. Prospective companies generally have at least $3 million of EBITDA and valued up to $150 million. Sectors of interest include manufacturing, distribution, energy services, industrial, and non-branded consumer goods. May River Capital was founded in 2012 and is based in Chicago.


DEAL STATS #
Overall 10 of 10
Sector: Machinery M&A 8 of 8
Type: Merger M&A Deals 2 of 2
State: Illinois M&A 1 of 1
Country: United States M&A 10 of 10
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-11 RLE Technologies

Fort Collins, Colorado, United States

RLE Technologies is a provider of critical facility oversight and notification. RLE has delivered facility monitoring and leak detection technologies that prevent disasters, preserve our customers’ reputations, and provide peace of mind. RLE Technologies was founded in 1984 and is based in Fort Collins, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-02 Tusk Industrial

Telford, Pennsylvania, United States

Tusk Industrial specializes in tough, high-performance pumping and fluid handling solutions engineered to excel in rugged environments – ensuring reliability where failure isn’t an option. Tusk Industrial designs, manufactures, and services metallic, fiberglass, and thermoplastic pumps for usage within a diverse range of high-temperature, corrosive, and caustic industrial environments, including chemical processing applications. Tusk Industrial is based in Telford, Pennsylvania.

Buy -
SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 82 of 82
Sector: Machinery M&A 7 of 7
Type: Merger M&A Deals 4 of 4
State: Illinois M&A 10 of 10
Country: United States M&A 78 of 78
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-03 Parallel Technologies

Eden Prairie, Minnesota, United States

Parallel Technologies is a provider of complete solutions for reliable data centers and intelligent buildings, Parallel Technologies helps clients define their needs and delivers results through superior engineering and technology. Parallel Technologies was founded in 1983 and is based in Eden Prairie, Minnesota.

Buy -