Intelligrated, a North American provider of automated material handling solutions, services and products, confirmed today it has been acquired by a holding company owned by Permira, a European private equity firm, in a transaction valued at more than $500 million.
Intelligrated will continue to be led by founders Chris Cole and Jim McCarthy, who have kept a stake in the company as part of the transaction.
Intelligrated designs, creates, and installs material handling automation platforms for the warehousing, distribution, consumer product manufacturing, postal, and parcel markets. Its deployments cover conveyor systems, sorting devices, palletizers, order-fulfillment systems, warehouse management software, and customized machine controls.
The Permira funds’ investment will support the company’s growth in existing markets like the United States, Canada, Mexico, and Brazil. Permira also hopes Intelligrated will expand to more emerging markets through deals with existing global customers. - Geoff Whiting