Aug 08, 2016
Atlanta, Ga-based Belt Power LLC has completed the acquisition of Sun Belt, Inc. Belt Power is a leading full-service distributor and fabricator of lightweight conveyor system components, including conveyor belts, equipment and accessories and rubber, hose and gasket products. The company serves the conveyor maintenance, replacement and overhaul needs of nearly 1,000 current customers with a particular focus on the food processing market.
Sun Belt is a Lakeland, Florida-based lightweight conveyor belt distributor offering innovative solutions for customers in the Midwest and Southeast markets through branches located in Lenexa, KS (Kansas City area) and Lakeland, FL. The company serves a variety of industries, including the food processing, baking, confectionery, printing, and corrugated markets. It also offers value-added solutions, such as product application assistance, troubleshooting, complete belting surveys, and comprehensive conveyor design assistance.
Shorehill Capital LLC, the majority investor in Belt Power, supported the acquisition with additional equity capital. Sun Belt owner Gunnar Henning will become a shareholder in Belt Power and will take an active leadership role in the company.
"Sun Belt is a well-respected and critical supply partner in the lightweight conveyor belting industry and we are excited to bring the Belt Power and Sun Belt teams together. I am eager to work with Gunnar and the Sun Belt team as we continue to successfully grow our business," said Belt Power CEO John Shelton. "I am proud of the business we built at Sun Belt, and I am thrilled to be joining forces with the Belt Power team. The Belt Power and Shorehill organizations were terrific to deal with and they made this transaction efficient, fair, and painless,” said Sun Belt owner Gunnar Henning.
"Shorehill is excited to support Belt Power in this and future acquisitions and we look forward to assisting the Belt Power team in building the preeminent distributor in the lightweight belting market," said Rob Hogan, Managing Director at Shorehill Capital.
The terms of the acquisition were not disclosed.