Daifuku Group Completes Acquisition of Elite Line Services, LLC

FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Daifuku Webb Holding Company, a subsidiary of Daifuku Co., Ltd., completed the purchase of all equity of Elite Line Services, LLC (ELS) from G&T Conveyor Company, Inc. G&T is majority owned by Brynwood Partners IV L.P., a private equity fund. ELS will operate as a subsidiary of Daifuku Webb within the Daifuku Group. ELS has more than 800 employees who will continue to provide operations and maintenance support for baggage handling systems, passenger boarding bridges, vehicle fleet and ground support equipment at airports.

“We are looking forward to sharing resources and improving our service to customers.”

“ELS will continue to offer the same high-quality service it always has to airports across North America,” said Brian Stewart, President & Co-CEO of Daifuku Webb Holding Company. “The only change is it now has the support of a $2-billion organization and one of the largest airport baggage handling system providers in the world.”

“We are thrilled to be part of the Daifuku Webb team, who has worked hard over the years to earn a solid reputation in the airport baggage handling industry,” said Mike Conner, Vice President General Manager of ELS. “We are looking forward to sharing resources and improving our service to customers.”

The management team for ELS remains in place, and it will continue to be headquartered in Carrollton, Texas.

“Daifuku Webb is committed to supporting ELS employees and customers, as well as to growing all of its maintenance business segments,” said Ken Hamel, Sr. Vice President of Airport Systems for Jervis B. Webb Company. “We hope to leverage the skills, knowledge and relationships of all Daifuku Group Companies to provide the best baggage handling systems and service in the industry.”

In April 2010, Daifuku Co., Ltd. launched a three-year business plan called “Material Handling and Beyond,” where it expressed a commitment to position the airport baggage handling business as one of its core businesses. Jervis B. Webb Company, a subsidiary of Daifuku Webb, provides airport baggage handling systems primarily in North America. In 2011, the Group completed the purchase of Logan Teleflex, another leading baggage handling company with locations in the United Kingdom, France and the U.S.

About Daifuku Co., Ltd.

Daifuku Co., Ltd. is the world’s top manufacturer and supplier of automated material handling systems and software to the automotive, semiconductor and LCD equipment, and general industry markets. Daifuku is headquartered in Osaka, Japan, with sales and service offices throughout the world. The Company was founded in 1937.

About Daifuku Webb Holding Company

Daifuku Webb Holding Company, a subsidiary of Daifuku Co. Ltd., is a leading developer of innovative material handling technology such as Automatic Guided Vehicles (AGVs), Automated Storage and Retrieval Systems (AS/RS), conveyors, baggage handling systems, bulk handling systems, and cleanroom systems. Daifuku Webb specializes in the design, engineering, manufacturing, installation and support of integrated systems used in the automotive, airport, semiconductor, LCD equipment, food/beverage, warehousing and manufacturing industries. Daifuku Webb is headquartered in Farmington Hills, Mich., with manufacturing locations throughout North America.

About G&T Conveyor Company, Inc.

G&T Conveyor Company, Inc. is the largest privately held turnkey Baggage Handling Systems manufacturer in the United States. G&T is headquartered in Tavares, Florida and is the parent company of The Horsley Company (Salt Lake City, UT) and Star Systems (Carrollton, TX). G&T is majority owned by Brynwood Partners IV L.P., a private equity firm based in Greenwich, Connecticut.

About Brynwood Partners

Founded in 1984, Brynwood Partners is an operationally-focused private equity fund that makes control investments in lower middle market companies. Brynwood Partners targets companies operating in the following sectors: (a) consumer products, (b) light manufacturing with low capital intensity, and (c) service businesses. Brynwood Partners is currently managing over $500 million of private equity capital for its limited partners who include U.S. and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions. For more information on Brynwood Partners, please visit www.brynwoodpartners.com.