LOUISVILLE, Ky.--Material Handling Systems, Inc. ("MHS"), a leading provider of advanced parcel sortation systems engineering and equipment, today announced that it has acquired Atronix Engineering, Inc. ("Atronix"), a leading controls systems integrator, and Advanced Production Systems, Inc. ("APS"), a dedicated specialist in engineering, design, and assembly of control panels.
"We are excited to welcome Atronix and APS to the MHS family, and believe that these acquisitions will further expand our geographical and customer footprint, product portfolio, and service offerings," said Tony Mouser, Chief Executive Officer of MHS. "We have long-standing relationships with both Atronix and APS, and we are confident that a partnership with these fine companies will serve as a catalyst to further accelerate our growth, enhance our ability to serve our key customers, and pursue new business opportunities. Atronix and APS will have our full support in continuing to serve all of their respective customers -- delivering on projects currently underway as well as those in the pipeline -- at the same high standards of excellence and commitment to customer satisfaction for which they are known and respected."
Based in Atlanta, Georgia, Atronix has been solving complex controls and software issues for some of the nation's leading companies since 1992. Atronix responds to system integration demands for both factory automation and office automation and provides custom solutions to a variety of markets, including: material handling, warehouse distribution, automotive, food and beverage, among others.
"For 25 years, Atronix has shown tremendous growth and leadership in systems integration by providing its customers with best-in-class, cost-effective engineering services. We look forward to working alongside Tony and the talented MHS team as we continue to design custom systems that meet the specific needs of our clients," said Tab Fischbach, President of Atronix.
APS was founded in Louisville, Kentucky in 1986. With over 200 years of experience amongst the leadership team and electrical technicians, APS has the capability to engineer, design, and build control panels in a number of industries, including: machine builders and OEMs, food and beverage, automotive, material handling, metals, personal care products, and process control.
"At APS, our strategy has been to operate with the highest standards while meeting our clients' most critical requirements in control panel engineering and design. We are very pleased to align with MHS and believe that our teams are a great fit with a shared approach to service and customer satisfaction," said Don Korfhage, President of APS.
The APS acquisition closed on October 2, 2017, and the Atronix acquisition closed on October 31, 2017. Financial terms for the transactions were not disclosed.
In April 2017, MHS announced that it had entered into an agreement to recapitalize in partnership with Thomas H. Lee Partners, L.P. ("THL"), a premier private equity firm investing in middle market growth companies, making THL the majority owner of MHS.
About Material Handling Systems, Inc.
Founded in 1999 and headquartered in Louisville, Kentucky, Material Handling Systems, Inc. has drawn from its employees' experience and expertise to become one of the leading material handling system integrators in North America. The Company provides the parcel industry with best-in-class design, implementation, and maintenance of turnkey material handling sortation and distribution systems. For more information, please visit https://www.mhsinc.net/.
About Atronix Engineering, Inc.
Headquartered in Atlanta, Georgia, Atronix Engineering, Inc. has been solving complex controls and software issues for some of the nation's leading companies in a variety of industries since 1992. Atronix responds to system integration demands for both factory automation and office automation. As a systems integrator, Atronix provides quality integration services to both national and international markets and offers more expertise behind every solution because of their broad industry experience. Atronix delivers custom solutions to a variety of markets that include material handling, warehouse distribution, automotive, food and beverage, and more. For more information, please visit https://www.atronixengineering.com/.
About Advanced Production Systems, Inc.
Advanced Production Systems, Inc. was founded in Louisville, Kentucky in 1986. With over 200 years of experience amongst the leadership team and electrical technicians, APS is taking panel fabrication to the next level. APS has the capability to engineer, design, and build control panels, while specializing in electrical and pneumatic control panels. From a small wall mount to a multi-door electrical panel, APS can handle all custom control panel specification. APS is a UL compliant panel fabricator certified with the ability to build panels compliant with CE guidelines. APS adheres to all NFPA, NEC, and CSA codes and guidelines. For more information, please visit https://www.teamaps.com/.
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. is a premier private equity firm investing in middle market growth companies, headquartered in North America, exclusively in four industry sectors: Business & Financial Services, Consumer & Retail, Healthcare, and Media, Information Services & Technology. Using the firm's deep domain expertise and the internal operating capabilities of its Strategic Resource Group, THL seeks to create deal sourcing advantages, and to accelerate growth and improve operations in its portfolio companies in partnership with management teams.
Since its founding in 1974, THL has raised over $22 billion of equity capital, acquired over 140 portfolio companies and completed over 360 add-on acquisitions which collectively represent a combined enterprise value at the time of acquisition of over $200 billion.