US based Platte River Equity is pleased to announce the acquisition of US headquartered Belt Power, LLC from Shorehill Capital. Belt Power is a full-service, value-added distributor and fabricator of conveyor system components, including conveyor belts, equipment and accessories.
“As the largest independent distributor, Belt Power has the industry knowledge, product line, customized fabrication capabilities and 24/7 installation services that differentiates itself from its peers,” said Mark Brown, Platte River Managing Director. “Platte River was attracted to the opportunity to further scale Belt Power’s national presence and is excited to partner with the management team to grow the Company’s leadership position in the broader industrial automation end markets.”
Don Heitmeier, CEO of Belt Power, said, “We look forward to partnering with Platte River and will benefit from the firm’s significant experience with industrial distribution businesses. We are excited about continuing to grow our geographic presence and to expand our product offering and breadth and depth of services. We are confident Platte River is the right partner to build upon our history as the leading distributor of conveying solutions.”
As per the source, Platte River invested out of its fourth fund, Platte River Equity IV, L.P. Bartlit Beck LLP served as legal counsel to Platte River.
