Akona: Unveiling a New Era in Material Processing and Handling Solutions
Deal News | Jan 29, 2025 | PR Newswire Cision May River Capital, LLC
Advanced Material Processing (AMP) and Automated Handling Solutions (AHS) have merged to form Akona Process Solutions, a new entity offering advanced material processing and handling solutions. Akona aims to provide innovative and integrated solutions by combining the technologies and global reach of AMP and AHS. The brand will leverage over 200 years of collective experience and will operate with centers of excellence in the US and Europe. The new firm, headquartered in Charlotte, aims to meet growing client demand for scalable, reliable, and efficient solutions in highly regulated environments. Akona will serve industries like food and beverage, pharmaceuticals, nutraceuticals, and chemicals. As a portfolio company of May River Capital, Akona seeks to optimize operations and reduce downtime for clients through its extensive portfolio of material handling and processing equipment. CEO Seth Vance highlights the brand's focus on innovation and customer-centric solutions, aiming to remain a trusted partner in client success.
Sectors
- Material Handling and Processing
- Private Equity
- Industrial Manufacturing
Geography
- United States – Akona Process Solutions is headquartered in Charlotte, North Carolina, and has operational centers across the United States, indicating its primary market and operational base.
- Europe – The article mentions Akona's centers of excellence in Europe, particularly in the UK and Germany, showcasing its international reach and market presence.
Industry
- Material Handling and Processing – The article focuses on the merger of companies providing solutions in the material handling and processing sector, including equipment and services for various industrial applications.
- Private Equity – May River Capital, a private equity firm, is mentioned as the owner of Akona Process Solutions, highlighting its role in investment and growth within the industry.
- Industrial Manufacturing – The solutions provided by Akona are tailored for industrial applications, especially in sectors like food, beverages, and chemicals, indicating a focus on industrial manufacturing processes.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Akona Process Solutions | Target Company | Company | A new entity formed from the merger of Advanced Material Processing and Automated Handling Solutions, providing material processing and handling solutions. |
| Advanced Material Processing | Seller Company | Company | A provider of material processing technologies, one half of the merged entity forming Akona Process Solutions. |
| Automated Handling Solutions | Seller Company | Company | A company offering material handling solutions, contributed to the formation of Akona Process Solutions. |
| May River Capital | Private Equity Firm | Company | A Chicago-based private equity firm that owns Akona Process Solutions, focused on investing in mid-market industrial growth companies. |
| Seth Vance | CEO | People | CEO of Akona Process Solutions, providing insight into the company's strategic direction post-merger. |