High Road Capital Partners has completed the acquisition of SMB Machinery Systems, a provider of used packaging and process equipment to the food and beverage industries.
“SMB has grown to become the leading provider of used food and beverage equipment due to the company’s deep product knowledge, comprehensive service offering, and broad inventory,” says Benjamin Schnakenberg, High Road principal. “The company is well positioned to capitalise on the proliferation of specialty beverages in both the US and emerging markets, and bring its know-how and reputation for reliability to new verticals. We look forward to working with SMB’s exceptional management team to continue to grow the company.”
Tom Ewing, president of SMB, will continue to lead the company post-closing. He and SMB’s management team invested in the transaction alongside High Road.
“We are excited to partner with High Road,” says Ewing. “With their financial and operational support, we are poised to further expand our comprehensive service offerings, which include equipment decommissioning, reconfiguration and installation, and to broaden the equipment solutions we offer our customers.”
High Road’s acquisition of SMB Machinery Systems closed on 18 October. Financing for the transaction was provided by U.S. Bank and Babson Capital Management. Babson Capital also invested equity alongside High Road. BB&T Capital Markets provided financial advice to the company. Transaction consideration was not disclosed.