Fredericks Michael & Co. acted as exclusive financial advisor to Cargotec Corporation, a leading provider of cargo and load handling solutions worldwide, and its business area Kalmar on the sale of Kalmar RT Center, LLC, a developer, producer, and marketer of rough terrain container handling equipment, to a Texas-based investment group, led by middle-market private investment firms Independent Bankers Capital Fund, L.P. and Congruent Investment Partners, LLC.
KRTC is a specialized manufacturer of rough terrain material handling equipment for both the defense and commercial markets. It is also a manufacturer and distributor of parts and a service provider to existing equipment. Its portfolio includes the RT240 Rough Terrain Container Handler and the RT022 Light Capability Rough Terrain Forklift that are specially built to military standards, with a proven ability to provide exceptional container handling in the toughest environments, as well as the RT290 Rough Terrain Container Handler for commercial operations. KRTC is headquartered in Cibolo, Texas, US, and its facility includes four buildings on 13.3 acres.
This transaction follows Kalmar's strategy to focus on container ports, heavy industry, and distribution segments. The rough terrain handling business is outside these core areas. Furthermore, KRTC operates to a large extent as a stand-alone business with limited synergies with the rest of Kalmar," comments Antti Kaunonen, President of Kalmar.
FM&Co.’s advisory services to Cargotec included running a comprehensive sale process, including identifying and contacting potential buyers, and valuing, structuring, and negotiating the terms and conditions of the agreement.
About Cargotec Corporation
Cargotec provides cargo and load handling solutions worldwide under its three business areas: Kalmar, Hiab, and MacGregor. Kalmar offers cargo handling equipment and automated terminal solutions, software, and services that are used in ports terminals and various industries. Hiab specializes in on-road load handling solutions whose customers operate in on-land transport and delivery. MacGregor offers engineering solutions and services for marine cargo and offshore load handling. Cargotec operates in more than 100 countries and generated sales of USD 3.9 billion in 2017. At the end of 2017, over 11,000 people worked at Cargotec. For more information, visit www.cargotec.com
About Independent Bankers Capital Fund, L.P.
IBCF, a private equity and venture capital firm based in Dallas, Texas, specializes in change of control, corporate divestiture, recapitalization, mezzanine, and late-stage growth financing transactions in low or non-technology businesses of lower middle market companies. Currently, the firm has three funds with a total capitalization of USD 232 million. For more information, visit www.ibcfund.com
About Congruent Investment Partners, LLC
Congruent is a private investment firm based in Dallas, Texas. It is primarily focused on making debt and equity investments in lower middle market companies. It manages capital in long-term private funds and through separate accounts. Currently, the firm manages USD 307 million. For more information, visit www.congruentinv.com