FARMINGTON HILLS, MICH. (August 31, 2012) – Daifuku Webb Holding Company, a subsidiary of Daifuku Co., Ltd., has reached an agreement with G&T Conveyor Company, Inc., to purchase all of the equity of Elite Line Services, LLC (ELS). G&T is majority owned by Brynwood Partners IV L.P., a private equity fund. ELS will operate as a wholly-owned subsidiary of Daifuku Webb within the Daifuku Group. The transaction is subject to final governmental approval under CFIUS regulations and is expected to be completed in the fourth quarter of fiscal 2012.
“The acquisition of ELS, one of the largest airport service providers in the U.S., will help us increase our baggage handling business by allowing us to offer comprehensive support and maintenance,” said Brian Stewart, President & Co-CEO of Daifuku Webb Holding Company. “It also shows our commitment of providing the best baggage handling systems and service in the industry.”
ELS has more than 800 employees that provide operations and maintenance support for baggage handling systems, passenger boarding bridges and ground support equipment. It is headquartered in Carrollton, Texas, and operates in over twenty of the nation’s busiest airports.
In April 2010, Daifuku Co., Ltd. launched a three-year business plan called “Material Handling and Beyond,” where it expressed a commitment to position the airport baggage handling business as one of its core businesses. Jervis B. Webb Company, a subsidiary of Daifuku Webb, provides airport baggage handling systems primarily in North America. In 2011, the Group completed the purchase of Logan Teleflex, another leading baggage handling company with locations in the United Kingdom, France and the U.S.
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 LCD equipment, 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 throughout North America.
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 IV L.P., 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.