Sep 03, 2012
Daifuku Group to Acquire Elite Line Services, LLC
August 31, 2012
Daifuku Co., Ltd. ("Daifuku") announced today that its wholly owned U.S.-based subsidiary Daifuku Webb Holding Company ("Daifuku Webb") has reached an agreement with G&T Conveyor Company, Inc. ("G&T"), to purchase all of the equity of Elite Line Services, LLC ("ELS"). The transaction is subject to final governmental approval under CFIUS regulations and is expected to be completed by the end of 2012.
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, United States.
In April 2010, Daifuku 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. In 2007, by acquiring all shares of U.S.-based Jervis B. Webb Company, now a subsidiary of Daifuku Webb, the Company entered into the airport baggage handling business. In 2011, the Daifuku Group completed the purchase of Logan Teleflex, another leading baggage handling company with locations in the United Kingdom, France and the U.S. to expand into global markets.
"The acquisition of ELS, one of the largest airport service providers in the U.S., will help the Daifuku Group increase our baggage handling business by allowing us to offer comprehensive support and maintenance," said Brian Stewart, President and Co-CEO of Daifuku Webb.
G&T is majority owned by Brynwood Partners IV L.P., a private equity fund.
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.