Akona Launch: Advanced Material Processing and Automated Handling Solutions Rebranded
Deal News | Jan 29, 2025 | PR Newswire Cision May River Capital, LLC
Advanced Material Processing and Automated Handling Solutions, both known for their capabilities in material processing and handling, have come together to form a new brand, Akona Process Solutions. This union, backed by May River Capital, a Chicago-based private equity firm, aims to leverage the combined expertise of its predecessors to offer robust processing and handling solutions particularly catering to high-value materials across several industries including food and beverages, pharmaceuticals, nutraceuticals, and specialty chemicals. The merged entity will continue to operate well-established brands Cablevey, Kason, Marion, and Spiroflow, which together boast over 200 years of collective experience in solving complex material handling challenges. Akona, headquartered in Charlotte, N.C., with several operations across the US and Europe, is poised to cater to the growing demand for integrated, reliable solutions that optimize operational efficiencies and ensure stringent hygiene standards, especially in regulated environments. Led by CEO Seth Vance, Akona aims to provide comprehensive solutions that simplify material handling and processing facilities' operations worldwide. This strategic merger and rebranding is seen as a significant step toward delivering unmatched value and reliability to their clientele, by promoting innovation and efficiency within their offerings. May River Capital, which focuses on partnerships with lower middle-market industrial growth companies, supports the newly formed Akona with its rich expertise in industrial growth sectors.
Sectors
- Material Handling and Processing
- Private Equity
- Food and Beverage Industry
- Pharmaceuticals and Nutraceuticals
Geography
- United States – Headquarters for Akona Process Solutions is in Charlotte, N.C., and they have multiple operational facilities across the U.S.
- Europe – Akona Process Solutions also operates through development and sales centers in European locations, indicating a geographic reach beyond the U.S.
Industry
- Material Handling and Processing – The article discusses the merger of two companies involved in material processing and handling, forming a consolidated entity catering to various industries.
- Private Equity – May River Capital, a private equity firm, is backing the merger and rebranding effort, highlighting the role of private equity in industrial partnerships and portfolio expansion.
- Food and Beverage Industry – Akona Process Solutions will serve this industry, providing solutions for processing and handling high-value materials.
- Pharmaceuticals and Nutraceuticals – The new entity will also cater to the pharmaceutical and nutraceutical industries, offering equipment and services aimed at enhancing efficiency and maintaining hygiene standards.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Advanced Material Processing | Target company | Company | One of the merging entities providing material processing solutions. |
| Automated Handling Solutions | Target company | Company | Its merging with AMP to form Akona, providing automated material handling solutions. |
| Akona Process Solutions | Rebranded entity | Company | The new brand formed from the merger, offering integrated material processing and handling solutions. |
| May River Capital, LLC | Private Equity Sponsor | Company | A Chicago-based private equity firm backing the merger and ongoing operation of Akona. |
| Seth Vance | CEO | Person | CEO of Akona Process Solutions. |