IL-MAY-RIVER-CAPITAL
26.4.2022 17:59:04 CEST | Business Wire | Press release
May River Capital , a Chicago-based private equity firm focused on lower middle market industrial growth companies, announced today the creation of Automated Handling Solutions (www.automatedhandlingsolutions.com ), a newly established platform offering highly engineered material handling equipment and automation solutions. The platform was formed through the combination of two specialty conveying and material handling businesses: Spiroflow, a global manufacturer of material handling equipment and provider of control systems integration, and Cablevey Conveyors, a market leading manufacturer of patented tubular drag conveying systems for food and beverage and high value industrial applications. Together, the combined companies will offer a differentiated and comprehensive suite of material handling equipment and industrial automation solutions to marquee customers globally.
“We are thrilled to welcome Spiroflow and Cablevey to the May River portfolio. We see an extraordinary opportunity to invest and grow these market-leading brands under one platform. With these foundational assets, we expect to further accelerate the profitable growth both Spiroflow and Cablevey have seen during the past several years,” said May River Partner, Steve Griesemer. “The specialty conveying sector is a high growth segment serving attractive end markets. Under the new platform, Cablevey and Spiroflow are uniquely positioned to serve this growing demand and build upon their track records of delivering innovative solutions to global customers.”
Founded in 1971 by Michel Podevyn and based in Monroe, North Carolina, Spiroflow offers one of the most comprehensive lines of handling equipment and complementary automation solutions in the industry, including flexible screw conveyers, bulk material filling and discharging equipment and integrated control solutions. Spiroflow was a pioneer and early innovator in flexible screw conveying. During its history, the company has built a strong reputation as a provider of precision material handling equipment used in high value applications in markets such as food and beverage, pharmaceutical, nutraceutical and specialty chemical end markets.
Through the leadership of Podevyn and CEO and Co-Chairman Jeff Dudas, Spiroflow has achieved significant recent growth in both the US as well as the UK, where the business was founded and still has a key facility. With installations in more than 50 countries, the company’s technology is known for its safety, efficiency and reliability, serving some of the most demanding material handling applications.
“We’ve come a long way during the past 50 plus years, as we’ve built a company that has become an important and reliable partner to our customers,” said Podevyn. “ We could not be more excited for the Spiroflow team to take the company to the next level through its new partnership with May River Capital.”
“With the additional financial and operational resources May River brings, we are excited to continue to invest in the business and drive growth. We believe this new partnership will further our track record of innovation and expansion that has served our customers, employees and the entire Monroe, North Carolina, and Clitheroe, UK communities well during the past several decades,” said Spiroflow CEO and Co-Chairman Jeff Dudas. Dudas will continue with Spiroflow as interim CEO, focusing on advancing growth-oriented initiatives through his deep network of customer and industry relationships.
“Spiroflow’s portfolio of conveying, storage, automation integration and system designs, combined with a North American and European presence, have positioned the company perfectly to catalyze this new platform’s growth,” said May River Executive Resource Group member Brad Sterner, who is acting CEO of Cablevey and will become Executive Chairman of AHS. “We will leverage May River’s ownership of both the Advanced Material Processing (AMP) process equipment platform and AHS to drive continued market share gains in our served global, high growth end markets of food, pharmaceutical, nutraceutical, chemical and general industrial sectors.”
Winston & Strawn served as legal counsel to May River. BDO, Capital Advisors, LLC served as financial advisor, while Shumaker, Loop & Kendrick, LLP served as legal counsel to Spiroflow and its shareholders.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com .
About Spiroflow
Spiroflow is a global leader in the field of powder handling and dry solids processing and an emerging leader in control systems integration. Throughout the company’s 50-plus-year history, its design engineers and process automation teams have provided customers with the safest, most efficient, and most reliable conveying and handling solutions available. Learn more at www.spiroflow.com .
About Cablevey Conveyors
Cablevey Conveyors is a global specialty conveyor manufacturer that designs, engineers, assembles and services tubular drag cable and disc conveyor systems. With customers in more than 65 countries, the company specializes in moving materials for food/beverage and industrial powder processors that seek food-grade conveying performance with systems that are clean, fast, energy-efficient and cost-effective. Learn more at www.cablevey.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220426005971/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Incyte Announces the European Commission Approval of Zynyz® (retifanlimab) for the First-Line Treatment of Advanced Squamous Cell Carcinoma of the Anal Canal (SCAC)6.3.2026 22:42:00 CET | Press release
- Zynyz® (retifanlimab) in combination with carboplatin and paclitaxel (platinum-based chemotherapy) is the first systemic treatment for adult patients with advanced SCAC in Europe- The EC approval is based on results of the POD1UM-303 study which showed that adult patients with advanced SCAC achieved significantly improved progression-free survival with Zynyz in combination with carboplatin and paclitaxel as a first-line treatment compared to chemotherapy alone.1 Incyte (Nasdaq:INCY) today announced that the European Commission (EC) has approved Zynyz® (retifanlimab) in combination with carboplatin and paclitaxel (platinum-based chemotherapy) for the first-line treatment of adult patients with metastatic or with inoperable locally recurrent squamous cell carcinoma of the anal canal (SCAC). “The EC approval of Zynyz marks an important step forward for patients with advanced SCAC, a rare cancer for which meaningful treatment advances have not occurred in several decades,” said Bill Meur
Dfns Launches Payouts6.3.2026 21:27:00 CET | Press release
Dfns today announced the launch of Payouts, a new API enabling institutions to convert stablecoins to fiat and route payouts across multiple bank accounts while keeping wallet-level governance and controls in place. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260305327930/en/ Convert stablecoins to fiat and settle payouts to bank accounts in 94 countries, today. Solving the problem of single-rail off-ramps Today, most fintechs and institutions still hard-wire a single payout provider into their stack, or rely on vertically integrated models that bundle routing, pricing, custody, and settlement together. That approach may be convenient early on, but it creates structural problems at scale: weak price discovery because there is no competitive pressure on margins, limited auditability because routing decisions are opaque, and operational fragility because a single provider degradation in any corridor requires architectural i
Klarna Group Plc Clarifies Mechanics of March 9 Lock-Up Expiration6.3.2026 20:23:00 CET | Press release
Klarna Group plc (NYSE: KLAR) today issues the following clarification to ensure investors and market participants have accurate information regarding the mechanics of its lock-up expiration on March 9, 2026, the processes required before pre-IPO shares can be traded on the NYSE, and the prior liquidity opportunities already available to shareholders. This release contains only factual descriptions of the Company's share structure and applicable processes. It does not constitute guidance or a projection of any kind regarding future trading volumes, share price, or the intentions of any shareholder and speaks only as of the date of this press release. 1. 335 million locked-up shares — but two different categories Of the 378 million total ordinary shares outstanding, approximately 335 million are subject to lock-up restrictions expiring March 9, 2026. However, these shares fall into two distinct categories governed by separate sets of regulations. A. 159 million shares (48% of locked-up
Lone Star Funds Announces Agreement to Acquire the Capsules & Health Ingredients Division of Lonza Group AG6.3.2026 18:30:00 CET | Press release
Lone Star Funds (“Lone Star”) today announced that an affiliate of Lone Star Fund XII, L.P. has entered into a definitive agreement to acquire the Capsules & Health Ingredients (“CHI”) division of Lonza Group AG. As part of the transaction, Lonza will retain a 40% equity position in the business. Headquartered in Basel, Switzerland, CHI operates globally across the Americas, Europe and Asia Pacific. The business comprises three segments: Hard Empty Capsules: leading global manufacturer of gelatin and plant-based capsules offering a broad range of innovative solutions for pharmaceutical and nutraceutical customers. Dosage Form Solutions: end-to-end development and manufacturing platform serving nutraceutical and pharmaceutical customers. Health Ingredients: provider of branded, science-backed nutrition ingredients serving joint health, energy and active lifestyle markets. Lone Star believes CHI is a high-quality, globally recognized platform with strong technical capabilities, different
Sutherland Launches FinAI Hub to Industrialize Agentic AI for Banking and Financial Services6.3.2026 14:00:00 CET | Press release
A domain-trained AI agent workforce enables production-scale AI across regulated financial institution operations Today, Sutherland announced the launch of Sutherland FinAI Hub, an enterprise Agentic AI platform built exclusively for Banking and Financial Services. As financial institutions accelerate AI adoption, many initiatives remain confined to pilots, unable to scale across legacy systems and core operations. Sutherland FinAI Hub is designed to help close that gap. FinAI Hub is an innovation ecosystem where Sutherland works with clients to design, prototype, and scale Agentic AI workflows across core operations. At launch, the platform brings together a large and expanding workforce of domain-trained AI agents purpose-built for financial institutions, supporting functions across retail banking, payments, cards, consumer and commercial lending, servicing, back office, risk and compliance functions. These modular agents can operate independently or be orchestrated across end-to-end
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom