Carlyle made a significant investment in global automation solutions provider Duravant alongside existing investor Warburg Pincus. Goldman Sachs served as lead financial adviser to Duravant, while Jefferies and William Blair provided additional advice.
DOWNERS GROVE, IL, NEW YORK, October 29, 2021 – Duravant LLC (“Duravant”), a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors, today announced a significant investment from funds led by global investment firm Carlyle (NASDAQ: CG), and continued partnership with Warburg Pincus, a leading global growth investor. Terms of the transaction were not disclosed.
Duravant is a leading global automation solutions company, focused on mission-critical packaging, food processing and material handling automation equipment used primarily in the food and beverage, e-commerce and distribution, agriculture, consumer products and industrial end markets. With manufacturing, sales and service facilities throughout North America, Europe and Asia, Duravant delivers trusted end-to-end process solutions for customers and partners through engineering and integration expertise, project management, and operational excellence. Through worldwide sales distribution and service networks, the company provides immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors.
“We are excited to have the combined capabilities of two world class investors behind our efforts to provide innovative and critical solutions to better serve Duravant’s global customers and partners. The partnership will further enhance our resources to scale our platform, invest in our team and bring new capabilities to the market,” said Mike Kachmer, President and CEO of Duravant. “Our new relationship with Carlyle, and continued relationship with Warburg Pincus, will allow us to build on the shared success we have achieved to date.”
The partnership among Duravant, Carlyle and Warburg Pincus will allow Duravant to capitalize on continued organic and inorganic growth opportunities, including new product development, geographic expansion and continued acquisitions of market leading automation equipment brands.
“Over the past four years of our partnership, Duravant has developed an expansive portfolio of high-quality brands that continue to benefit from the favorable secular tailwinds of automation. Through transformative opportunities such as the launch of the nVenia packaging platform, the creation of the SupportPro aftermarket organization and the recent acquisition of Foodmate, Duravant has been able to meet the increased demand for automation products in each of its key segments and offer an expanded set of solutions to its customers,” said Jeff Goldfaden, Managing Director and Head of Industrials, Warburg Pincus. “We firmly believe in the accelerated adoption of automation solutions across a broad range of applications in Duravant’s end markets and look forward to our continued partnership with Mike and the Duravant team through their next phase of growth,” added Dan Zamlong, Managing Director, Warburg Pincus.
Warburg Pincus is an active investor in industrials, with current and historical investments including, Consolidated Precision Products, Extant Aerospace, Infinite Electronics, Pregis, Service Logic, Sundyne, TransDigm and TriMark USA, among others.
“We’re thrilled to be partnering with Mike, the Duravant team, and Warburg Pincus on this investment, which aligns with our long-standing strategy to back industry leaders,” said Wes Bieligk, a Managing Director specializing in Industrial and Transportation at Carlyle. “Duravant is a world class business with a long-term track record of growth and is well positioned to benefit from attractive automation trends across its end markets.”
The investment in Duravant is a continuation of Carlyle’s long-term global commitment to Global Industrial and Transportation sectors, in which it has invested over $26 billion since inception including investments in Atotech, Nouryon, and Novolex, among others.
Goldman Sachs served as lead financial advisor to Duravant. In addition, Jefferies Group and William Blair served as financial advisors for Duravant. Cleary Gottlieb Steen & Hamilton served as legal advisor for Duravant. Latham & Watkins served as legal advisor to Carlyle. Transaction is subject to customary closing conditions.
Headquartered in Downers Grove, IL, Duravant is a global engineered equipment company with manufacturing, sales and service facilities throughout North America, Europe and Asia. Through their portfolio of operating companies, Duravant delivers trusted end-to-end process solutions for customers and partners through engineering and integration expertise, project management and operational excellence. With worldwide sales distribution and service networks, they provide immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors. Duravant’s market-leading brands are synonymous with innovation, durability and reliability. For more information, visit www.duravant.com.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $67 billion in private equity assets under management. The firm’s active portfolio of more than 215 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds, which have invested more than $97 billion in over 960 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.