Borgman Capital Announces Sale of Material Handling Holdings
MILWAUKEE – (AUGUST 24, 2023) – Borgman Capital, a lower middle market private equity firm headquartered in Milwaukee, today announced the sale of Material Handling Holdings, LLC (“MHH”) to Ballymore Company, Inc. a portfolio company of Graycliff Partners LP.
With multiple locations in Wisconsin, MHH is a leading supplier of custom, highly engineered lifting and positioning equipment including lift tables, tilt tables, upenders and electric carts. Borgman Capital acquired the subsidiaries of MHH in 2018 as its first platform investment.
During the five-year investment period, Borgman Capital worked with MHH management to establish a leading position as manufacturer and distributor of material handling equipment through online sales efforts and capturing a diverse customer base. Additionally, the company is now a vertically-integrated operation and performs manufacturing, assembly and customization in-house. Today, MHH provides a broad product offering with a variety of custom, manufactured, branded and distributed offerings.
“I am extremely proud of what we achieved with MHH leadership to combine three founder-owned businesses, build a streamlined platform and grow the top and bottom lines,” said Sequoya Borgman, founder and CEO of Borgman Capital. “There are numerous growth opportunities on the horizon for MHH with Ballymore. MHH will be a strong addition to Ballymore’s offerings and Ballymore has the expertise and infrastructure in place to lead MHH through its next chapter.”
Based in Coatesville, Pennsylvania, Ballymore is a designer and manufacturer of safety-centric equipment for use by retailers, OEMs, and distribution customers. Since its founding in 1945, Ballymore has grown from its origins as the first ever manufacturer of rolling ladders to a provider of a variety of safety-focused electric lifts, ladders, work platforms, portable loading docks, and other related material handling equipment.
Taureau Group served as financial advisor and Reinhart Boerner van Deuren served as legal counsel on the transaction.
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About Borgman Capital
Founded in 2017, Borgman Capital is a private equity firm focused on investing in successful lower middle market businesses that are poised for growth. The firm acquires companies with annual revenue between $10 and $100 million and EBITDA between $2 and $15 million. We are opportunistic in nature, ready to explore deals in a fair, flexible and creative manner. Borgman Capital is headquartered in Milwaukee with additional operations in the Twin Cities. Learn more at .borgmancapital.com.