The partnership will enable Duravant to capitalise on continued organic and inorganic growth opportunities, including new product development, geographic expansion and continued acquisitions of automation equipment brands
Duravant has announced strategic partnership with Carlyle and Warburg Pincus. (Credit: Tumisu from Pixabay)
US-based Duravant has entered into a strategic partnership with global investment firm Carlyle and Warburg Pincus to support its growth.
The automation solutions provider has secured a significant investment from funds managed by Carlyle, as well as announced a continued partnership with global growth investor Warburg Pincus.
Terms of the deal have not been disclosed.
Duravant offers mission-critical packaging, food processing and material handling automation equipment for food and beverage, e-commerce and distribution, agriculture, consumer products and industrial end markets.
The company provides end-to-end process solutions for customers and partners via its manufacturing, sales and service facilities located in North America, Europe and Asia.
Duravant president and CEO Mike Kachmer said: “We are excited to have the combined capabilities of two world class investors behind our efforts to provide innovative and critical solutions to better serve Duravant’s global customers and partners.
“The partnership will further enhance our resources to scale our platform, invest in our team and bring new capabilities to the market.
“Our new relationship with Carlyle, and continued relationship with Warburg Pincus, will allow us to build on the shared success we have achieved to date.”
Duravant will use the investment to support and the growth and development of advanced automation solutions platform.
The partnership will enable Duravant to capitalise on continued organic and inorganic growth opportunities, including new product development, geographic expansion and continued acquisitions of automation equipment brands.
Goldman Sachs acted as lead financial advisor to Duravant, while Jefferies Group and William Blair served as its financial advisors.
Cleary Gottlieb Steen & Hamilton served as legal advisor for Duravant, while Latham & Watkins acted as legal advisor to Carlyle.
In February this year, Duravant acquired Netherlands-based Votech, which offers bag filling machines, palletiser machines, stretch hood machines and pallet transport systems.