Le Lézard
Classified in: Mining industry, Business
Subject: TNM

Morrell Group Joins Platte River Equity Portfolio Company, Womack Machine Supply Company

DENVER, June 7, 2023 /PRNewswire/ -- Platte River Equity ("Platte River"), a Denver-based private equity firm that makes control investments in North American industrial operating companies, including value-added distribution businesses, announced today that Morrell Group ("Morrell") has joined its portfolio company, Womack Machine Supply Company ("Womack" and combined with Morrell, the "Company"). Morrell is a leading distributor of automation and industrial fluid power solutions with a full suite of value-add and automation integration capabilities. Combined, Womack and Morrell's national footprint now covers 27 states across the United States.

"By working together to combine our best capabilities, we're creating opportunities to accelerate our growth in ways that would never be possible otherwise," explains Matt Oldroyd, CEO of Womack. "The combined strength of our industry expertise and experience allows us to further apply our solutions, services and products in more industries across a broader footprint than ever before. We are looking forward to welcoming Mark Garrett and Mark Majewski to our executive team."

"Joining Womack opens up a whole new world for us," adds Mark Majewski, President of Industrial and Factory Automation at Morrell. "This combination creates one of the largest automation and fluid power distributors in the United States, with extraordinary capabilities in providing end-to-end solutions for our customers across a range of industries."

"After over 40 years working with our sister company, Womack, coming together is a natural fit," says Mark Garrett, President of Morrell Group. "With our culture and values so closely aligned and a combined team of over 400 people, we have the chance to leave a lasting community impact across the U.S."

"We are excited to bring Womack and Morrell together," said Platte River Vice President Mike Reilly. "Their complementary expertise and capabilities offer national growth opportunities that will meaningfully benefit the Company's customers and suppliers. We look forward to working with the talented combined team to create a new leader in automation and motion control."

About Morrell
Founded in 1976 and based in Auburn Hills, MI, Morrell is a leading engineering partner, systems integrator and value-added distributor of automation and advanced motion control solutions for industrial and mobile applications. Morrell is diversified across a broad base of customers that it services from seven facilities located in the Midwest and one facility located in Ontario, Canada. For additional information, please visit www.morrell-group.com.

About Womack
Founded in 1953 and based in Farmers Branch, TX, Womack is a distributor of industrial motion control and automation solutions with a broad product offering and full suite of value-added capabilities. Womack serves a diverse customer base across 13 facilities. For additional information, please visit www.womackmachine.com.

About Platte River Equity
Founded in 2006 and based in Denver, CO, Platte River Equity is a private equity firm focused on investments in established lower middle market operating companies within targeted industrial sectors where it has substantial operating and investing experience. Platte River utilizes conservative capital structures in order to invest in future growth opportunities and withstand changing economic environments. The firm also provides significant ongoing support to its portfolio companies through dedicated resources across functional areas.

The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund. The Platte River team is the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams. For additional information, please visit www.platteriverequity.com.

Brian P. Klaban
Director of Business Development & Debt Capital Markets
Phone #: +1 303 292 7317
Email: 360341@email4pr.com

Lauren A. Metz
Vice President of Business Development
Phone #: +1 303 292 7321
Email: 360341@email4pr.com

SOURCE Platte River Equity

These press releases may also interest you

at 21:00
LG Chem announced today that it will make inroads into the...

at 11:30
Prepare to experience a laser engraving journey like never before as Monport Laser announces the expansion of its robust after-sales technical support services. With an unwavering dedication to exceeding customer expectations, Monport is now seeking...

22 sep 2023
Reflex Advanced Materials Corp. ("Reflex" or the "Company") announces an amendment to the terms of its non-brokered private placement financing (the "Private Placement") previously announced on August 21, 2023. The Private Placement is now...

22 sep 2023
Orex Minerals Inc. ("Orex" or the "Company") today announced that, effective September 27, 2023, the Company will consolidate its issued and outstanding...

22 sep 2023
This news release is being made by AuRico Metals Inc. ("AuRico"), a wholly owned subsidiary of Centerra Gold Inc., to report a historical acquisition by it of common shares ("Shares") in the capital of Pacific Ridge Exploration Ltd. (the "Issuer"), a...

22 sep 2023
Mineros S.A.  (CB: MINEROS) ("Mineros" or the "Company") announces that on September 21, 2023, it closed the previously announced sale of its non-core Gualcamayo Property to Eris LLC (the "Purchaser")....

News published on and distributed by: