PE-backed Material Handling Systems appoints McReynolds as CEO

Material Handling Systems Inc, which is backed by Thomas H. Lee Partners LP, has named Scott McReynolds as CEO. He will succeed co-founder and CEO Tony Mouser who stepped down as CEO but will continue managing special projects. Headquartered in Louisville, Kentucky, MHS is a provider of parcel sortation systems, engineering, and equipment.

PRESS RELEASE

LOUISVILLE, Ky.–(BUSINESS WIRE)–Material Handling Systems, Inc. (“MHS” or the “Company”), a leading provider of advanced parcel sortation systems, engineering, and equipment, today announced that it has named Co-Founder and Chief Operating Officer Scott McReynolds as its Chief Executive Officer, succeeding Co-Founder and Chief Executive Officer Tony Mouser. Mouser, who stepped down from his position as CEO, will continue managing Special Projects, and Co-Founder Greg Judge remains in his role as President. Both will support McReynolds in broad company leadership.

“We are very excited that Scott McReynolds, a Co-Founder of MHS with 20 years’ experience serving as its COO, will step into the role of CEO and lead MHS’s next phase of global growth and expansion, with continuing leadership and support from Co-Founder Tony Mouser, who will remain with the Company as a Special Projects Advisor, and Co-Founder and President Greg Judge,” said Jim Carlisle, Managing Director at THL.

Since MHS’s founding in 1999, Mouser, McReynolds, and Judge have grown the Company into a leading provider of intelligent material handling systems to the top logistics and e-commerce companies around the world. During that time, they collectively led significant operational improvements and product and geographic expansion, enhancing MHS’s capabilities and offerings and establishing a global presence. In April 2017, MHS’s three Co-Founders led the Company to a recapitalization in partnership with Thomas H. Lee Partners, L.P. (“THL”), providing MHS with operational expertise and financial resources to accelerate its overall growth strategy. Also in 2017, MHS’s three Co-Founders established MHS Europe in order to provide MHS’s European customers with the same high level of support and services that MHS is known for in North America.

Subsequently in 2017 and 2018, Mouser, McReynolds, and Judge oversaw MHS’s successful acquisitions of Atronix Engineering, Advanced Production Systems, A2i Systems, Officina Costruzioni Meccaniche (OCM), and VanRiet Material Handling Systems, further improving the Company’s infrastructure and bolstering its engineering and technical capacity.
Carlisle continued, “Scott, Greg, and Tony are exceptional leaders, and together they have been responsible for growing MHS into a world-class automation systems provider for the most reputable, global logistics and e-commerce businesses. As MHS accelerates into its next chapter, we welcome Scott into the CEO role with Greg supporting him as President. We also thank Tony for his tremendous contributions to MHS as CEO over the last 20 years. We are enthusiastic about his continuing work as Special Projects Advisor, leveraging his extensive industry experience and capabilities with large clients while supporting MHS at its various worksites.”

“When we began succession planning, our main goals were to ensure an orderly leadership transition and to identify an executive who would continue building on our successful track record and grow the business into adjacent markets and internationally,” said Mouser. “We firmly believe we have achieved those goals by elevating Scott, an experienced leader who helped establish MHS as a customer-focused industry leader and manage its daily operations, to the position of CEO. I am extremely proud of what we have been able to accomplish thus far, and look forward to supporting Scott, Greg, and the rest of our highly-qualified management team through this transition and beyond.”

“I am deeply honored to assume this new position and to have the opportunity to lead MHS forward as CEO with Greg as our President,” said McReynolds. “Driven by our commitment to engineering talent, technological innovation, and serving our customers’ needs, MHS is well-positioned for continued growth and product diversification. I thank Tony for his leadership and collaboration over the years, and look forward to his continuing contributions to MHS.”

About Material Handling Systems, Inc.
Founded in 1999 and headquartered in Louisville, Kentucky, Material Handling Systems, Inc. has drawn from its experience and expertise to become a leading global provider of turnkey systems integration and engineering, advanced automation equipment and software and aftermarket services. For more information, please visit http://www.mhsglobal.com.

About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in growth companies headquartered in North America. THL focuses its investment activity across four industry sectors: Business & Financial Services, Consumer & Retail, Healthcare and Media, Information Services & Technology. Since its founding in 1974, THL has raised more than $25 billion of equity capital, invested in over 140 companies and completed more than 360 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion. With dedicated sector and operating teams, THL brings deep domain expertise and resources to build great companies by helping to accelerate growth, improve operations and drive long-term sustainable value in partnership with management.