Oct 22, 2013
High Road Capital Partners Bottles Eleventh Platform Acquisition
High Road Capital Partners ("www.highroadcap.com") has completed the acquisition of SMB Machinery Systems (SMB) (www.smbsales.com). Based in Ball Ground, Georgia, SMB is a leading provider of used packaging and process equipment to the food and beverage industries.
“SMB has grown to become the leading provider of used food and beverage equipment due to the company’s deep product knowledge, comprehensive service offering, and broad inventory,” said Benjamin Schnakenberg, High Road Principal. “The company is well positioned to capitalize on the proliferation of specialty beverages in both the United States and emerging markets, and bring its know-how and reputation for reliability to new verticals. We look forward to working with SMB’s exceptional management team to continue to grow the company.”
Tom Ewing, President of SMB, will continue to lead the company post-closing. He and SMB’s management team invested in the transaction alongside High Road.
“We are excited to partner with High Road,” said Mr. Ewing. “With their financial and operational support, we are poised to further expand our comprehensive service offerings, which include equipment decommissioning, reconfiguration and installation, and to broaden the equipment solutions we offer our customers.”
High Road’s acquisition of SMB Machinery Systems closed on October 18, 2013. Financing for the transaction was provided by U.S. Bank and Babson Capital Management. Babson Capital also invested equity alongside High Road. BB&T Capital Markets provided financial advice to the company. Transaction consideration was not disclosed.
Benjamin Schnakenberg, Principal, led the transaction for High Road. Also working on the transaction from High Road were Jerome Anderson, Partner, and Paul Langley, Senior Associate
Tom Ewing, President of SMB, will continue to lead the company post-closing. He and SMB’s management High Road has completed 26 transactions, comprising 24 acquisitions – 11 platform investments, 13 add-on acquisitions – and two exits since its founding in 2007.
High Road Capital PartnersHigh Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $450 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
SMB Machinery Systems, LLCSMB Machinery Systems, LLC, founded in 1993, is a leading provider of used packaging and processing equipment to the food and beverage industries. The company offers a comprehensive suite of related services including removal, installation, storage, relocation and demolition. SMB is headquartered in Ball Ground, Georgia. http://www.smbsales.com.
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