Brightstar Capital Partners has acquired a majority stake in Material Handling Group USA, a provider of new, used and rental material handling equipment and aftermarket parts and service. The investment, for undisclosed terms, was made through Brightstar's dedicated lower middle market strategy, which targets founder-, family- and entrepreneur-led businesses.
Roger Runyan will continue as CEO of MHG, and he and his management team will keep a meaningful ownership stake. Jonathan Dawley, former president and CEO of KION North America, will serve as executive chair. He brings more than two decades of experience in the material handling equipment industry. MHG serves customers across Michigan, New York and the Mid-Atlantic region through four brands: Fraza, Vitan Equipment, Matthai Material Handling and Buffalo Lift Trucks. Each is anchored by a recurring aftermarket business spanning service, parts and rental.
The company began as a single-location forklift repair shop in Detroit in 1938. Runyan acquired it in 2017 after more than 20 years at the company. Charles Yoon, partner at Brightstar and managing partner of the lower middle market strategy, said distribution buildout, reshoring and the shift toward automated warehouses are expanding the equipment base that needs skilled service. He said the company is well positioned for continued growth, both organically and through selective M&A.
Sean Courtney, managing director at Brightstar, said MHG's success is built on its technician workforce and customer trust, and pointed to opportunities to invest in that workforce and bring practical technology and AI to the front line. Brightstar, a middle-market firm with approximately $5 billion in assets under management focused on business services and industrials, did not disclose financial terms.
Source: PE Hub · Summarized by HeadlinesBriefing