Company Description
Ashland Conveyor Products is a leading manufacturer and provider of conveyor systems and related parts and accessories. The Company manufactures a complete offering of conveyor systems, including i) gravity conveyor systems, which consist of roller, skatewheel, and telescoping conveyors, and ii) power conveyors, which include power belt and chain-driven live roller conveyors. Ashland Conveyor also provides a significant variety of accessories and replacement parts. Serving hundreds of customers per year, Ashland Conveyor’s material handling customer base spans a variety of markets, including e-commerce order fulfillment, distribution, and retail.
Services Provided
MelCap Partners served as Ashland Conveyor’s exclusive investment banker and financial advisor in the sale of the business. We’d like to thank Mr. Tim Swineford, President, and Mr. Bill Waltz, CFO, for hiring MelCap Partners to represent the Company in this once in a lifetime transaction. It was an honor and pleasure to work with them throughout this exciting process.
The Result
In an effort to provide the shareholders with liquidity, and to continue to support Ashland Conveyor’s strategic growth plans, MelCap Partners was able to successfully identify the best partner for the business. As a result, Ashland Conveyor was sold to Woodsage in Holland, OH, a portfolio company of Milton Street Capital, which is headquartered in Houston, TX. Woodsage principally manufactures and markets specialty steel rollers and other components used in conveyor system solutions across the material handling industry. Milton Street Capital is a private equity firm focused on control investments in the North American lower middle market industrial sector.
“Value and legacy are two primary concerns of an invested business owner. The MelCap Team has the network, reach, knowledge, and energetic staff to maximize the seller’s value and navigate all the ebbs and flows of the demanding M&A process. MelCap also appreciates a seller’s desire to leave a legacy that cares for and respects all stakeholders, including both customers and employees. This combination makes MelCap a formidable player in the M&A market and sensitive to the needs of an invested seller. Thank you MelCap Team for maximizing our value and caring for all our stakeholders!”
