CrownBrook Capital LLC Announces Acquisition of Conveyor Systems Designer and Manufacturer
April 24, 2007CrownBrook Capital LLC ("CrownBrook") is pleased to announce the acquisition of a majority stake in American Conveyor Corporation ("American Conveyor" or the "Company"). Founded in 1995, American Conveyor provides a "turn-key" solution, which includes the design, manufacture, integration and set-up of complete manufacturing and distribution solutions, for build-to-spec conveyor systems. The Company clients include food and beverage, pharmaceutical, and industrial companies. The acquisition is CrownBrook Capital's first acquisition in the conveyor / materials handling arena and provides CrownBrook with a foundation company for its foray into the industry.
American Conveyor & CrownBrook Capital
American Conveyor has been designing, manufacturing and integrating conveyor systems within industrial facilities for over twelve years. The Company is recognized as integral to the process of creating efficient manufacturing and distribution environs. As a result, it has earned the trust of a large number of organizations including Kraft Foods, Publix Super Markets, Sara Lee Bakery Group, L'Oreal and numerous other companies. Dan Gulick was formerly with Tersus Energy Plc. where he served as an asset manager overseeing their investments in the energy controls and efficiency sectors and as President of a wholly-owned subsidiary. Mr. Gulick has assumed the responsibilities of overseeing American Conveyor and executing its expansion strategy as the new CEO. Mr. Gulick recognized the opportunity as one in which the Company will seek to augment its organic growth opportunities with timely and strategic acquisitions of other small to medium sized material handling system manufacturers, creating a greater geographical presence for the Company. Ron Schinik, a founding partner at CrownBrook Capital, noted that " the Company's expansion can be accelerated by leveraging the American Conveyor's expertise through a broader sales effort which is one of many reasons that led CrownBrook Capital to make its second investment this year".
About CrownBrook Capital
CrownBrook is an investment group that acquires majority interests in privately-held micro-cap and lower middle market companies with EBITDA of $1.5 to $5 million. CrownBrook creates value by partnering with management to implement strategic, operational, technological and marketing initiatives. The firm invests in a broad spectrum of industries and is opportunistic in its approach towards new investments.
