Daifuku Webb Holding Company,a subsidiary of Daifuku Co.,Ltd.,has reached an agreement with G&T Conveyor Company,Inc.,to purchase all of the equity of Elite Line Services,LLC(ELS).G&T is majority owned by Brynwood Partners IV L.P.,a private equity fund.ELS will operate as a wholly-owned subsidiary of Daifuku Webb within the Daifuku Group.The transaction is subject to final governmental approval under CFIUS regulations and is expected to be completed in the fourth quarter of fiscal 2012.
"The acquisition of ELS,one of the largest airport service providers in the U.S.,will help us increase our baggage handling business by allowing us to offer comprehensive support and maintenance,"said Brian Stewart,President&Co-CEO of Daifuku Webb Holding Company."It also shows our commitment of providing the best baggage handling systems and service in the industry."
ELS has more than 800 employees that provide operations and maintenance support for baggage handling systems,passenger boarding bridges and ground support equipment.It is headquartered in Carrollton,Texas,and operates in over twenty of the nation's busiest airports.
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.
