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Avedon Capital Partners exits VanRiet to Material Handling Systems

Avedon Capital Partners and Management have sold VanRiet Material Handling Systems (VanRiet), a provider of integration systems, equipment and after-market services solutions, to Material Handling Systems (MHS), a leading provider of advanced parcel sortation systems, engineering and equipment, backed by Thomas H Lee Partners.

Closing is subject to regulatory approvals. 
 
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 four 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, says: “We are very proud of what Rik van den Boog, his management team and the employees of VanRiet have realised. They have made bold decisions in focusing VanRiet’s strategy and made significant investments accordingly, strengthening and professionalizing the organisation 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 organisation 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,” says Rik van den Boog, Chief Executive Officer of VanRiet.

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