MHS and Fortna merge to create mega automation firm
MHS GLOBAL, a global provider of material handling automation technology and systems integration, and Fortna, a software and solutions provider for warehouse and distribution, will combine to form a multi-billion-dollar, multinational company.
MHS and Fortna are both within the investment portfolio of private equity firmThomas H. Lee Partners (THL). THL will remain the majority owner of the combined company and a wholly owned subsidiary of the Abu Dhabi Investment Authority will acquire a significant minority stake.
“MHS has built its reputation over the past 20-plus years by being a reliable and committed partner while expanding our capabilities and taking a progressive, tech-forward stance to deliver new products and solutions,” said MHS CEO Scott McReynolds. “Combining with Fortna will allow us to accelerate our collective efforts on all fronts, to the benefit of our customers, employees, and suppliers.”
“Fortna has been a trusted advisor driving competitive advantage for our clients as they build direct-to-consumer models, increase service levels, and enable a lower cost to serve,” said Rob McKeel, CEO of Fortna. “The combination with MHS will enable the model to scale with our clients globally and allow the combined company to drive further innovation in operating models, software, and automation.”
Upon closing, McKeel will become the CEO, and McReynolds will become the President, of the combined entity.
The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.
For more information, visit www.mhsglobal.com / www.fortna.com
