Dorner Manufacturing Corp, a portfolio company of Incline Equity Partners, has acquired Malaysia-based FlexMove, a maker of flexible chain conveyors for food, beverage, automotive, electronic and other sectors. No financial terms were disclosed.
Incline Equity Partners (“Incline”), a private equity firm focused on making investments in lower middle-market growth companies, announces its platform company, Dorner Manufacturing Corp. (“Dorner” or the “Company”), an industry leader in the design, applications, manufacturing and integration of precision industrial and sanitary conveyor systems, has acquired FlexMove System (M) SDN. BHD (“FlexMove”). Penang, Malaysia-based FlexMove is a leading manufacturer of flexible chain conveyors for food, beverage, automotive, electronic and other industries.
The FlexMove acquisition serves as a platform for Dorner’s international growth in Asia and Europe. The geographic expansion was further bolstered by adding flexible chain conveyors to the Dorner suite of products. These conveyors strengthen the Company’s offerings for applications with turns and elevation changes.
“We’re excited to have a company join us whose product design and quality are in line with Dorner’s,” said Terry Schadeberg, President and CEO. “We continue to see growth in international markets, and the addition of FlexMove solidifies our commitment to serving the European and Asian markets. Incline’s support and expertise as we navigated our first international acquisition were crucial at every step of the transaction.”
“We will continue to support the team’s evaluation of companies that further build out the international footprint,” said Wali Bacdayan, Partner with Incline. “Dorner is already a globally recognized brand. Having facilities in strategic international locations allows us to better serve existing clients while more efficiently increasing market share.”