Private equity firm May River buys Kason Corp., creates Advanced Material Processing company
The new firm combines Kason with May River's existing portfolio company, Marion Process Solutions.
A new platform company focused on material processing equipment has been created by Chicago-based private equity firm May River Capital after its purchase of Kason Corp.
The new company is called Advanced Material Processing (AMP), and combines Kason with May River’s existing portfolio company, Marion Process Solutions.
“AMP is an exciting new platform for May River,” May River Partner Chip Grace said in a statement. “Material processing equipment is a highly fragmented sector. Combining industry leading, complementary material processing equipment manufacturers will allow us to advance engineering capabilities, in addition to providing other synergies. Our goal is to create short and long term value by providing better products and services to our customers.”
Headquartered in Milburn, N.J., Kason has nearly 50 years of experience designing and manufacturing screening, drying, cooling and processing equipment. The company serves the plastics industry, as well as the food, pharmaceutical, energy, minerals, aerospace, and defense sectors. The financial terms of the Kason acquisition have not been released.
Marion Process Solutions, an 80-year-old company based in Marion, Iowa, custom manufactures processing solutions with industrial mixers and blenders, as well as microwave vacuum drying systems. Marion focuses on the plastic, food, nutraceutical, mineral, chemical, and biomass industries.
May River completed the deal for Marion Process Solutions on Dec. 31. The Kason acquisition was completed on Sept. 4.
“These two companies offer a deeply-synergistic opportunity to scale a set of highly-engineered product portfolios that are tailored to mission critical applications,” Kason CEO Henry Alamzad said in the statement. “We look forward to expanding their footprints whilst bringing the strengths of both organizations to bear in the market, solving the greater material processing needs of our customers.”