Material handling provider Intelligrated to be sold for US$500 million

In a deal worth more than US$500 million, U.S.-based automated material handling provider Intelligrated will be purchased by European private equity firm Permira.

Based in Mason, Ohio, near Cincinnati, Intelligrated designs, manufactures and installs automated material handling stems, including conveyors, robotics and warehouse control systems. The company has operations in the U.S., Canada (Ontario and Quebec), Mexico, and Brazil.

Intelligrated management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company and will continue to run the helm.

The deal is expected to close in the third quarter of 2012.