Advanced Material Processing and Automated Handling Solutions Merge under Akona Brand
Deal News | Jan 29, 2025 | PR Newswire Cision May River Capital, LLC
In a strategic move to deepen their market presence, Advanced Material Processing (AMP) and Automated Handling Solutions (AHS) have announced their merger under the new brand name Akona Process Solutions. This newly formed entity is owned by Chicago-based private equity firm May River Capital and aims to leverage its comprehensive suite of technologies to serve high-value material processing and handling needs across varied industries such as food and beverage, pharmaceuticals, and chemicals. Akona Process Solutions is set to consolidate its operations by utilizing brands such as Cablevey, Kason, Marion, and Spiroflow, bringing together over 200 years of collective experience in material handling. Headquartered in Charlotte, North Carolina, and with extended operations in both the USA and Europe, Akona plans to enhance efficiency for its clients while maintaining high standards of hygiene and reliability. The merger is a significant step towards providing integrated, scalable solutions to customers in demanding and highly regulated environments. Akona aims to simplify operational processes and maintenance, allowing its clients to focus on maximizing their business outputs.
Sectors
- Material Processing and Handling
- Private Equity
Geography
- United States – Akona Process Solutions is headquartered in Charlotte, North Carolina, and has operations in other US locations like Marion and Oskaloosa, Iowa.
- Europe – Akona has operations across Europe, including locations in Manchester, United Kingdom, and Frankfurt, Germany, reflecting its geographical reach.
Industry
- Material Processing and Handling – The article revolves around the merger of two companies specializing in material processing and handling solutions, indicating its focus on this industry segment.
- Private Equity – May River Capital, a private equity firm, is identified as owning the merged entity, Akona Process Solutions, pointing to the involvement of this financial sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Advanced Material Processing | Target Company | Company | A material processing company that merged with Automated Handling Solutions to form Akona Process Solutions. |
| Automated Handling Solutions | Target Company | Company | A material handling solutions company that merged with Advanced Material Processing to form Akona Process Solutions. |
| Akona Process Solutions | Newly Formed Company | Company | The result of a merger between AMP and AHS, Akona provides integrated solutions for material processing and handling. |
| May River Capital | Private Equity Owner | Company | A Chicago-based private equity firm that owns Akona Process Solutions, focusing on lower middle-market industrial companies. |
| Seth Vance | CEO | Person | CEO of Akona Process Solutions, overseeing the integration and strategic direction of the merged company. |