We’re excited to share some significant news – May River Capital acquires Cablevey Conveyors, a recognized leader in specialized automated conveyor systems for the food and beverage, pharmaceutical, and chemical industries. Interestingly, this acquisition coincides with Cablevey Conveyors’ golden anniversary, marking a pivotal moment in the company’s journey and heralding an optimistic outlook for its future.
Chicago — January 10, 2022 – May River Capital, situated in Chicago and specializing in investments in burgeoning industrial companies, revealed its latest acquisition today: Cablevey® Conveyors, an esteemed global producer of automatic conveyor systems (specifically tubular drag conveyor systems) hailing from Oskaloosa, Iowa.
Cablevey stands at the forefront of the enclosed conveyance technology domain, boasting a presence in over 65 nations. The firm is celebrated for its commitment to food safety, operational efficiency, and eco-friendly, low-energy solutions in the challenging sphere of material transportation.
What Cablevey Brings to the Table?
“Cablevey’s focus on solving conveyance application challenges using our proprietary cable drag technology and the resulting dramatic growth has positioned the company as an anchor asset to build a larger conveyance platform,” said Gary Hall, Cablevey’s CEO. “The additional investments now possible with May River allow us to continue to increase market share with existing and top-tier customers in our core food and beverage sectors, including tree nuts, coffee, and pet food, as well as expand in other growth markets like pharmaceuticals.”
“Gary and I could not be happier for the employees, the Oskaloosa, Iowa, community, and customers of Cablevey, and we are thrilled to partner with the May River team,” said Phil Hall, Cablevey’s President. “We look forward to further building upon Cablevey’s 50-plus year history of developing and bringing new product innovations to market, such as our new 8” drag conveyance system that adds tremendous value to those who rely on Cablevey to deliver clean, fast, and cost-effective conveying solutions.”
It Is the Next Phase of the Company’s Growth
“It’s truly a privilege and opportunity to lead a business like Cablevey and the dedicated Cablevey team,” stated Brad Sterner, who will be taking over the role of CEO at Cablevey, following Gary Hall. “Gary, Phil, and I are looking forward to working through the transition as we collectively turn our attention to the next phase of the company’s growth.”
Sterner will maintain his role as Executive Chairman of Advanced Material Processing (AMP), a “sister” platform under May River, focused on equipment for material processing in regulated sectors. This “sister” relationship promises collaborative advantages with Cablevey, given the overlap of clientele in the realms of food, pharmaceuticals, and chemicals.
Cablevey Provides High-Impact Conveyor Solutions
“We are excited about the specialty conveyance sector and attractive high-growth end markets served by Cablevey and the highly complementary AMP process equipment platform,” May River’s partner, Steve Griesemer, elaborated.
“As the handling and process industries continue to expand, leading end users in the food and beverage, pharmaceutical, and chemical verticals seek to align with innovative partners that can be counted upon to deliver market-leading solutions. Cablevey will serve as a strong foundation within the material handling segment for delivering high-impact solutions to these global, blue-chip customers.”
We Are Celebrating 50th Anniversary in Style
Hall emphasized the significance of the announcement’s timing, noting that the acquisition was finalized on December 22, coinciding with the company’s 50th-anniversary celebration.
“Achieving such a significant milestone serves as a reminder of our commitment to our employees, customers, and community,” said Hall. “In fact, Cablevey will continue to operate in Oskaloosa and contribute to our local Mahaska County economy as we have every day for the past 50 years.”
Winston & Strawn served as legal counsel to May River. NCP Inc. served as a financial advisor, and Belin McCormick served as legal counsel to Cablevey Conveyors and its shareholders.
More Information on May River Capital
Based in Chicago, May River Capital is a private equity establishment with an emphasis on nurturing industrial growth entities in the lower middle market. Their investment portfolio encompasses top-tier industrial expansion ventures, such as precision-based manufacturing, engineered goods, instrumentation, industry-specific services, and enhanced industrial distribution solutions. For further details, one can explore mayrivercapital.com.
More Information on Cablevey Conveyors
Cablevey Conveyors stands as an international manufacturer of specialty conveyor systems, focusing on the design, conveyor engineering, assembly, and maintenance of tubular conveying system mechanisms. Catering to clients across over 65 nations, their expertise lies in transporting materials for the beverage and food industry, as well as industrial powder processing, ensuring cleanliness, swift operations, energy efficiency, and affordability in their systems. Further details can be found at www.cablevey.com.
Cablevey Conveyors Offer Conveyor Technologies That Can Help Many Manufacturing Businesses
Cablevey Conveyors provides advanced conveyor technologies tailored to the diverse needs of various businesses. The practice of manufacturing conveyor systems is meticulously organized to ensure optimal performance and efficiency. Beyond just crafting these systems, the team of conveyor manufacturers also provides conveyor installation supervision, ensuring each setup meets the highest standards and functions seamlessly. This comprehensive approach underscores the company’s commitment to excellence in the realm of conveyor solutions. Contact Cablevey Conveyors for more information about a tubular conveyor.
