On August 21, 2024, T-TEK Material Handling LLC ("T-TEK"), portfolio company of Holleway Capital Partners and Capital for Business, was acquired by Duravant LLC ("Duravant"), a portfolio company of Carlyle Group and Warburg Pincus.
Kroll served as sell-side M&A advisor to T-TEK in connection with the transaction.
“A huge thank you to the Kroll team! Everyone on the team worked really hard to understand T-TEK’s business, position it correctly, get the right parties interested in the business and find the right partner for the management team. In my career, I have not seen a process go so smoothly and so quickly. Fantastic job by all.”
Holly Huels, Managing Partner, Holleway Capital Partners, LLC
“The Kroll team came to the table prepared. They walked us through a difficult process, all the while staying focused on what we wanted and needed in our next chapter. Top to bottom the Kroll team was best in class!”
Michael Traff, Co-Founder and CEO of T-TEK
About T-TEK
Headquartered in Montgomery, AL, T-TEK is a premier manufacturer and service provider of custom-built automated end-of-line packaging equipment including palletizers, depalletizers, robotic systems, conveyors and complete lines. Their automation solutions are designed to enhance production environments and processes for high-volume and high-speed operations. T-TEK’s team of engineers and expert technicians are focused on solving the palletizing, conveying and material handling needs of blue chip producers of packaged food, beverage and consumer goods who demand reliable equipment performance and world-class customer service. T-TEK offers comprehensive on-site equipment audits on all equipment brands and provides equipment retrofits, upgrades and rebuild services.
About Holleway Capital Partners
Holleway Capital Partners is a private equity firm backing management teams to buy or recapitalize the companies they operate, providing succession and liquidity to business owners. They work to acquire manufacturers and distributors of industrial products headquartered in the Greater Midwest and Southern regions of the United States. The team at Holleway has more than 60 years of combined experience in partnering with family and entrepreneurial-owned companies.
About Capital For Business
Located in St. Louis, MO, Capital For Business (“CFB”) is a middle market industrial growth investment firm committed to providing capital to middle market manufacturing and value-added industrial services companies. CFB’s portfolio companies generally have strong management teams, niche market leadership and high potential for growth through product development, optimizing business development, capacity expansion and acquisitions.
About Duravant
Headquartered in Downers Grove, IL, Duravant is a global engineered equipment company with manufacturing, sales and service facilities throughout North America, South America, Europe and Asia. Through their portfolio of operating companies, Duravant delivers trusted end-to-end process solutions for customers and partners through engineering and integration expertise, project management and operational excellence. With worldwide sales distribution and service networks, they provide immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors. Duravant’s market-leading brands are synonymous with innovation, durability and reliability.
About Carlyle Group
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. Founded in 1966, Warburg Pincus has over 55 years of investing experience in North America, over 30 years in Europe and over 25 years of experience in Asia. The firm has raised 21 private equity and 2 real estate funds, which have invested more than $112 billion in over 1,000 companies in more than 40 countries.
