DURAVANT ANNOUNCES STRATEGIC PARTNERSHIP WITH CARLYLE AND WARBURG PICUS
Duravant LLC, a global provider of engineered equipment and automation solutions for the food processing, packaging and material handling industries has just announced a significant investment of funds by global investment firm Carlyle, and a continued partnership with Warburg Pincus, a leading global growth investor. Terms of the transaction were not disclosed.
This merger between Duravant, Carlyle and Warburg Pincus will allow Duravant to capitalize on continued growth opportunities including new product development, geographic expansion and continued acquisitions of market leading automation equipment brands.
Following the announcement, Mike Kachmer, President and CEO of Duravant expressed his enthusiasm, saying, “We are very pleased to have the capabilities of two world-class investors supporting our efforts to provide innovative solutions to Duravant’s global customers and partners. Our new relationship with Carlyle, and our continued relationship with Warburg Pincus, will allow us to build on the shared success we have achieved to date.
With manufacturing, sales and service facilities in North America, Europe and Asia, Duravant provides trusted end-to-end process solutions for customers and partners through engineering and integration expertise, project management and operational excellence. Through worldwide distribution and sales service networks, the company provides immediate and lifetime aftermarket support to all markets served in the food processing, packaging and material handling sectors.
“Duravant has developed a broad portfolio of high-quality brands that continue to benefit from the favorable secular tailwinds of automation. Through transformational opportunities such as the launch of the Venia packaging platform, the creation of the SupportPro aftermarket organization and the recent acquisition of Foodmate, Duravant has been able to meet the growing demand for automation products in each of its key segments and offer an expanded set of solutions to its customers,” says Jeff Goldfaden, general manager, Industrials, Warburg Pincus.
“We strongly believe in the accelerated adoption of automation solutions across a wide range of applications in Duravant’s end markets and look forward to continuing to partner with Mike and the Duravant team in their next phase of growth,” adds Dan Zamlong, CEO of Warburg Pincus.
“Duravant is a world-class business with a track record of long-term growth and is well positioned to benefit from attractive automation trends in all of its end markets,” adds Wes Bieligk, managing director specializing in Industrial and Transportation at Carlyle.
The investment in Duravant is a continuation of Carlyle’s long-term global commitment to the global industrial and transportation sectors, in which it has invested more than $26 billion since its inception, including investments in Atotech, Nouryon and Novolex, among others.
