Avedon Capital Partners exits VanRiet to Material Handling Systems, Inc. (US) after successful growth strategy

Avedon Capital Partners and Management have announced the sale of VanRiet Material Handling Systems (“VanRiet”), a leading global provider of integration systems, equipment and after-market services solutions, to Material Handling Systems, Inc. (“MHS”) a leading provider of advanced parcel sortation systems, engineering and equipment, backed by Thomas H. Lee Partners, L.P. Closing is subject to regulatory approvals.

Both Management and Avedon are pleased with this transaction which confirms the value creation strategy that was actively pursued in partnership since 2014. 

Founded in 1948 and based in the Netherlands, VanRiet offers a complete range of automated sortation systems, integration and engineering services, sortation equipment, and after-market services solutions to its global, blue-chip customer base. With an experienced and highly qualified management team and employee base, VanRiet serves high-growth end markets, with a focus on courier and express parcel, traditional postal, third party logistics, and warehouse and distribution customers.

With the support of Avedon, VanRiet has tripled its sales over the past 4 years, while expanding its global presence and further extending its product innovation capabilities. VanRiet doubled the size of its production locations in Houten and China, and opened new locations in Poland (PLC engineering), the UK and Atlanta (US, production). Next to continued innovations in its core product, the shoe sorter, VanRiet introduced the “IQ-grid” and several other product innovations. The investments in Demo3D (software that allows for system simulation and emulation and which automatically generates bills of material, electrical circuit layouts and now even PLC software), have accelerated the scalability of the company. On the back of the investments in R&D, sales and marketing, VanRiet’s customer base has been expanding continuously with recently blue chip customers like Amazon and Zalando. VanRiet’s organization doubled over this period, from around 100 employees in 2014 to around 200 now.

Michel Verhoog and Gerritjan Eggenkamp of Avedon Capital Partners: “We are very proud of what Rik van den Boog, his management team and the employees of VanRiet have realized. They have made bold decisions in focusing VanRiet’s strategy and made significant investments accordingly, strengthening and professionalizing the organization and investing heavily in sales, marketing and R&D to further extend the globally leading position of the shoe sorter, introduce new products such as the IQ-grid and in tooling to support the company’s core processes.”

“We would like to thank Avedon for supporting us by substantially investing in- and expanding of the organization to create a platform of excellence that enabled us to accelerate the growth during their ownership. We are now pleased to align ourselves with MHS, and look forward to working alongside them as we continue to enhance our ability to meet a broader set of customer needs around the world,” said Rik van den Boog, Chief Executive Officer of VanRiet.

VanRiet Founded in 1948 VanRiet is a leading global system integrator. The company strives to improve the global competitiveness of its clients by designing, integrating, installing, and maintaining automated sorting solutions. VanRiet focuses its solutions on the high-growth end markets of courier, express and parcel services, e-commerce, and warehouse & distribution. VanRiet employs over 200 people and is based in Houten, the Netherlands, with locations in China, Poland and the US. For more information, please visit www.vanrietgroup.com.

About Avedon Capital Partners
Avedon is a leading lower mid-market private equity firm in the Benelux and Germany, providing growth capital in partnership with strong management teams that have distinctive and ambitious growth plans requiring a step change. Through dedicated sector teams, Avedon seeks proprietary investments within the following four sectors: (i) Industrial & Engineering (ii) Software & Technology, (iii) Business Services and (iv) Consumer & Leisure. Through its Alpha teams, Avedon endeavors to support its portfolio companies in the fields of Sales & Growth Strategy, HR, Operational Improvement and Positioning. For more information, please visit www.avedoncapital.com.

About Material Handling Systems, Inc.
Founded in 1999 and headquartered in Louisville, Kentucky, United States, Material Handling Systems, Inc. has drawn from its employees’ experience and expertise to become one of the leading material handling system integrators in North America. The Company provides the parcel industry with best-in-class design, implementation, and maintenance of turnkey material handling sortation and distribution systems. For more information, please visit www.mhsglobal.com.

About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. is a premier private equity firm investing in middle market growth companies, headquartered in North America, exclusively in four industry sectors: Business & Financial Services, Consumer & Retail, Healthcare, and Media, Information Services & Technology. Using the firm’s deep domain expertise and the internal operating capabilities of its Strategic Resource Group, THL seeks to create deal sourcing advantages, and to accelerate growth and improve operations in its portfolio companies in partnership with management teams.

Since its founding in 1974, THL has raised over $22 billion of equity capital, acquired over 140 portfolio companies and completed over 360 add-on acquisitions which collectively represent a combined enterprise value at the time of acquisition of over $200 billion.


Media Contacts
For VanRiet:
Rik van den Boog/Johan Verhoeff
+31(0)88 60 68 111

For Avedon:
Michel Verhoog/Gerritjan Eggenkamp
+31(0)20 568 26 21

For MHS or THL:
Sard Verbinnen & Co.
Robin Weinberg/Cameron Seligmann


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