Recapitalization to supports management-led acquisition of 55-year-old company.
By MMH Staff
May 11, 2016
Huron Capital Partners and Duchossois Capital Management have announced they have collectively acquired a majority ownership position in Germantown, Wisc.-based Systems Inc., in partnership with Mike Pilgrim, CEO of Systems.
Founded in 1961, Systems is a leading manufacturer of hydraulic, pneumatic, and mechanical loading dock leveling equipment, truck restraints, specialty dock equipment and related accessories sold under the Poweramp, DLM and McGuire brand names. The Company operates out of facilities in Germantown, Wisc., and Malvern, Ark. The business serves both end-users and nationwide dealership networks to design, engineer, manufacture, and deliver dock equipment for use in grocery, trucking, retail and general warehousing environments.
“We are excited to partner with Huron Capital and DCM,” Pilgrim said. “They both have demonstrated a deep knowledge of our industry, and possess years of experience working with companies in our market to professionalize their businesses and implement strategic growth plans. Our former owner, Ed McGuire, allowed us to choose who we wanted to partner with to purchase the company and we are confident that our team has chosen well.”
The company further stated that it has added industry veteran Paul Reilly and operations expert Ken Goodson to serve on its Board of Directors. Previously, Reilly was founder and CEO of R-Bac Industries, Rytec, and Paul Reilly Co., as well as having served in other leadership roles at other companies. Goodson spent 29 years with Herman Miller, most recently serving as executive vice president of worldwide operations.
“As a full-service loading dock solutions provider with a broad product offering, we see Systems as being well-positioned in its niche,” said Mike Beauregard, Huron Capital senior partner. “We think there’s a great opportunity to build on the company’s success, infuse it with technology applications, and drive a business development engine by leveraging the collective resources of Huron Capital, DCM and Messrs. Pilgrim, Reilly and Goodson.”