Danville Partners Buys Multi-Flex In Add-On Transaction

Danville Partners said Monday that it has bought Multi-Flex, a Sarasota, Fla.-based maker of modular extrusion and stainless steel conveyor systems. Financial terms were not announced. The deal is an add-on and will complement Danville’s other holdings, Simplimatic Automation and Advantage Puck Technologies. Danville, of Cleveland, is a business development partnership that uses PE investment to fund companies.

PRESS RELEASE

Danville Partners, LLC announced today the acquisition of Multi-Flex® Inc., based in Sarasota, FL.  Multi-Flex® manufactures modular extrusion and stainless steel conveyor systems, alpine accumulators, side gripper elevators, lowerators and product inverters. In addition, the company sells automation components for conveyor and pallet transfer systems.

Multi-Flex® is an add-on acquisition to complement Danville Automation Holding’s other companies: Simplimatic Automation (Lynchburg, VA), which provides specialized conveyors and high-speed puck-handling automation equipment; and Advantage Puck Technologies, which manufactures puck-style product carriers used to maximize efficiency in packaging and producing personal-care product lines.

“Multi-Flex’s outstanding product line and customer base will offer exceptional opportunities for growth and be a robust complement to Danville’s automation portfolio,” said Michael A. Gaudiani, managing partner of Danville Partners, LLC and chairman of Danville Automation Holdings.  “The integrated solutions provided by our new business combination leverage our technology, product and service capabilities.”

“My father always put his customers first,” said Multi-Flex® President Peter Rosenquist. “Our family is pleased that this acquisition will allow his legacy to live on and bring valuable new resources and product solutions to support the challenges faced by our customers.”

Simplimatic Automation President Tom DiNardo said the Multi-Flex® name will remain, and its plant will continue operations uninterrupted in Sarasota. “Multi-Flex® customers can expect the same great customer support Multi-Flex® has come to be known for, coupled with the additional products and worldwide capabilities service of Simplimatic.”

Simplimatic Automation, Lynchburg, Va., designs and manufactures material-handling and automation systems used in a variety of industries for packaging and assembly customers worldwide. Simplimatic Automation is a portfolio company of Danville Partners, LLC, through Danville Automation Holdings, LLC, which is composed of Simplimatic Automation, Advantage Puck Technologies and Multi-Flex® Inc. For more information, visit www.simplimatic.com, www.adv-puck.com or www.multi-flex.net.

Danville Partners, LLC, is business-development partnership that uses private equity investment to build entrepreneurial companies. Focusing on small- and middle-market companies, Danville helps its portfolio businesses achieve their maximum growth potential. For more information, visit www.danvillepartners.com.

Advantage Puck Technologies, LLC, Corry, Pa., is an innovative designer and manufacturer of puck and injection-molded carriers used internationally in packaging and manufacturing processes. Advantage Puck Technologies is owned by Danville Partners LLC through Danville Automation Holdings, which is composed of Simplimatic Automation, Advantage Puck Technologies and Multi-Flex® Inc.  For more information, visit www.adv-puck.com.