Material Handling Systems Inc. (MHS), Washington, Kentucky, will acquire certain U.S. conveyor assets, located in Norton Shores, Michigan, of TGW Logistics Group, Marchtrenk, Austria. Financial terms of the deal weren’t disclosed.
The contract between the two companies has been signed and the acquisition is expected to take effect in February 2021.
Lincoln International advised TGW through the M&A process. KPMG acted as accounting and tax adviser and Goldberg Kohn Ltd acted as legal counsel to TGW. Financial terms for the transaction were not disclosed.
TGW made its entry into the U.S. market more than 15 years ago with the acquisition of the material handling equipment producer Ermanco. Since then, the locally produced equipment has been used in projects throughout North America.