Simplimatic Automation announces formation of holding company to support future portfolio growth.
Evington, Va., Tue Jun 19, 2012 /PRNewswire/ — Simplimatic Automation, LLC announced that it is now organized under the business entity Simplimatic Engineering Holdings LLC in preparation of anticipated future acquisitions to the newly formed portfolio. Simplimatic Automation LLC, MultiFlex Systems LLC and Advantage Puck Technologies LLC are now each operating subsidiaries of Simplimatic Engineering Holdings.
Thomas DiNardo, President & CEO of Simplimatic Engineering Holdings said “The new structure and new name better reflects our mission while leading with our strongest brand, Simplimatic , which has been a trusted name in the automation industry since 1965”. DiNardo added “The name change is also the result of a Stock Membership Redemption in which the minority shareholders of Simplimatic Automation bought out the interests of the majority shareholders. This change better aligns the interests of our remaining members and postures us well for future acquisitions and operating company growth.”
In addition, Betsy Dellinger joined the Simplimatic Engineering Holdings team as General Counsel. Betsy has practiced corporate law with major Midwest law firms for nearly 25 years, with a focus on middle market finance, capital formation and company growth. “We are thrilled Betsy has joined are team full time. We have long relied on her business and deal experience, her involvement going forward assures our success in securing our aggressive growth plans”, stated DiNardo.
Additional terms of the membership redemption transaction were not disclosed.
Simplimatic Engineering Holdings, LLC is a portfolio of engineering businesses owned by private equity investment who seeks to strategically expand both organically and by acquiring companies which synergistically complement our existing holdings of Assembly and Packaging automation companies.
CONTACT: Jeremy Vaughan, +1-434-385-9181, for Simplimatic Engineering Holdings, LLC
Web site: http://www.simplimaticholdings.com/