Hy-Tek Holdings Formed
Hy-Tek Material Handling, Inc. and WorldSource Integration, Inc. have been acquired jointly by Dunes Point Capital, LP (“DPC”) to form Hy-Tek Holdings, a material handling automation integrator serving clients in diverse end-markets and applications, including ecommerce, third-party logistics, and parcel. The acquisition was announced by Hy-Tek Holdings CEO Sam Grooms.
Columbus, Ohio-based Hy-Tek Material Handling is the premier single-source provider of material handling solutions. WorldSource, headquartered in Nashville, TN, is a material handling automation integrator. Under the Hy-Tek Holdings umbrella, Hy-Tek and WorldSource will offer expanded products and services to the material handling industry. The two companies will continue to operate under their respective names. Management structures and operations, including 500-plus employees and eight facilities, remain in place.
“DPC’s acquisition of Hy-Tek and WorldSource makes us the predominant player in material handling, positioning us to deliver unmatched best-in-class solutions to the material handling and integrated systems (IS) industries,” said Grooms. “Hy-Tek and WorldSource share values, passion, and entrepreneurial spirit. We are committed to working hand-in-glove to solve problems and deliver top-notch results.”
“We’re excited to be part of Hy-Tek Holdings,” said WorldSource President Devin Neuneker. “Together, Hy-Tek and WorldSource create a bigger, stronger, deeper entity with the experience and expertise to meet the needs of material handling and IS customers now and in the future. We stand ready to tackle complex projects large and small with our unsurpassed technology, turnkey solutions, and first-class talent.”
Alantra, a leading global financial advisory firm with M&A expertise in the industrial automation and material handling sectors, served as financial advisor to both sellers. The debt for the transaction was provided by M&T Bank. Ropes & Gray LLP served as legal advisor to DPC, and Alvarez & Marsal LLC’s Global Transaction Advisory Group served as financial advisor to DPC.
About Hy-Tek Holdings
Located in Columbus, OH, Hy-Tek Holdings is a material handling automation integrator serving clients in diverse end-markets and applications, including ecommerce, third-party logistics, and parcel. Hy-Tek Holdings was established as a combination of Hy-Tek and WorldSource.
About Hy-Tek Material Handling
Hy-Tek is the premier single-source provider of material handling solutions for a wide range of industries including manufacturing, distribution, retail, construction, food, electronics, and automotive. Since 1963, Hy-Tek and its best-in-class industry partners—including manufacturers of industrial equipment; conveyor systems; automated storage and retrieval systems; rack and shelving—have been providing customers large and small with turnkey solutions. From customized one-of-a-kind handling and storage systems to pre-assembled buildings and off-the-shelf products—Hy-Tek’s experienced team of engineering, sales, operations, and project management professionals partner with customers to help enhance productivity, streamline processes, and boost profitability. Headquartered in Columbus, Ohio, Hy-Tek Material Handling serves customers in the United States, Canada, and Mexico from offices in Georgia, Kentucky, New Jersey, Ohio, Pennsylvania, and Tennessee. Hy-Tek’s three divisions—Integrated Systems, Industrial Equipment, and Johnson Stephens Consulting—deliver cost-effective, efficient solutions for every material handling application. Contact www.hy-tek.com or 800.837.1217.
About WorldSource Integration, Inc.
Headquartered in Nashville, TN, WorldSource is a material handling automation integrator providing design, engineering, and installation services to a diverse customer base. WorldSource has two locations and employs approximately 70 people. For more information, please visit www.world-source.com.
About Dunes Point Capital, LP
DPC is a family office and private investment firm, pursuing control investments in companies operating in the general industrial and business services sectors. DPC targets companies with enterprise values of up to $1 billion. For more information, please visit www.dunespointcapital.com.
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Contact: Nancy Flynn
Nancy Flynn Public Relations, Inc.