Gryphon Completes Dividend Recap of Intelligrated

Gryphon Investors has completed a dividend recap of portfolio company, Intelligrated, an automated materials handling company based in Cincinnati, a source said. The $80 milion dividend is roughly one-and-a-half times the money Gryphon invested a year before to support Intelligrated’s buy of FKI Logistek in 2009, the person said. Gryphon, of San Francisco, invests in middle market companies.