- TGW’s US conveyor assets to be acquired by MHS Holdings, Inc.
- With the sale, TGW adjusts its strategic portfolio and focuses on the growing integration business in North America
- MHS takes over the associated employees and will further develop the division in a sustainable way
TGW Logistics Group will sell certain of its US conveyor assets located in Norton Shores (Michigan) to Material Handling Systems, Inc. (MHS). The contract between the two companies has been signed and the acquisition is expected to take effect in February 2021.
Lincoln International guided TGW through the whole M&A process. KPMG acted as an Accounting and Tax Advisor and Goldberg Kohn Ltd acted as legal counsel to TGW. Financial terms for the transaction were not disclosed.
TGW made its entry into the US 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.