ERJ staff report (PR)
Chicago, Illinois -- US private equity firm Shorehill Capital LLC has acquired a majority stake in Belt Power LLC, a distributor of lightweight conveyor belts and belting accessories.
Belt Power manufactures conveyor system components, including conveyor belts, equipment, accessories and rubber, hose and gasket products.
The Atlanta, Georgia-based company serves the conveyer maintenance, replacement and overhaul needs of nearly 1,000 current customers with a particular focus on the food processing market.
“We were impressed with Shorehill Capital’s knowledge of the distribution industry as well as their ability to grow businesses strategically,” said John Shelton, president of Belt Power. “The resources and acumen they bring to Belt Power will help us take our company to the next level.”
Shorehill will support growth initiatives at Belt Power, including strategic acquisitions, greenfield expansion and new product and service offerings, according to Rob Hogan, managing director at the Chicago-based equity firm.
“We continue to look for successful companies in the distribution and industrial markets where we can apply our active investment management approach in partnership with outstanding management teams to accelerate earnings growth and value creation,” said Hogan.