Pfingsten Partners has acquired Motus3 Cos., an Overland Park, Kansas-based maker of food processing equipment under the brand names Marlen and Carruthers. No financial terms were disclosed for the deal, which closed on December 31.
Private equity firm, Pfingsten Partners, L.L.C., announced the acquisition of Motus3 Companies, an Overland Park, KS-based designer and manufacturer of innovative food processing equipment for a variety of products including meat, poultry, fish, vegetables, fruit, bakery, confectioneries, snacks and dairy goods. Motus3 products are sold under the brand names Marlen and Carruthers, and are used for pumping, portioning, filling, dicing, grinding, slicing, reducing, chilling and cooking food.
Motus3’s highly engineered products, replacement parts, and field services have been used by blue chip food processors for more than 50 years. Strong brand recognition and customizable products for niche applications have enabled the company to achieve meaningful market share in a highly fragmented industry. Pfingsten plans to create a diversified food processing equipment platform through organic growth, strategic add-on acquisitions and geographic expansion. Going forward, the company will operate under the name Marlen International.
“Growing global demand for processed foods, a large installed base of equipment, and a meaningful replacement parts business made this an attractive opportunity for us,” said Thomas S. Bagley, Senior Managing Director, Pfingsten Partners, L.L.C. “We hope to leverage the company’s strong brand image with Pfingsten’s global capabilities to build an international manufacturer of niche food equipment and replacement parts spanning a broad range of food applications.”
“Pfingsten’s conservative capital structure enabled us to get a deal done with certainty,” said Motus3 President, Adam Anderson. “The new partnership will allow us to embark on our next stage of growth by immediately accessing new customers, expanding our geographic reach both domestically and internationally, and continuing further investment in new product development.”
Pfingsten Partners acquired the business in partnership with management on December 31, 2009, and marks the second platform investment for Pfingsten Partners’ $525 million Fund IV. Terms were not disclosed.
About Pfingsten Partners
Pfingsten Partners is an operationally focused private equity firm founded in 1989. From its headquarters in Chicago and offices in Hong Kong and Shenzhen, China, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten Partners has acquired 68 manufacturing, distribution and business service companies and has over $1.2 billion of capital under management. For more information, visit www.pfingstenpartners.com.