ATLANTA—Belt Power L.L.C., a distributor and fabricator of conveyor system components, completed the acquisition of Regional Supply L.L.C.
The terms of the acquisition were not disclosed, according to a Belt Power release. Shorehill Capital L.L.C., the majority investor in Belt Power, supported the acquisition with additional equity capital.
Regional Supply owners Paul and Tim Barrett will become equity owners in Belt Power and have representation on Belt Power's board of directors. Steve Casagrande, general manager for Regional Supply, will serve as an executive vice president of Belt Power, and will lead its East Region sales team.
The Regional Supply team is a "welcome addition" to Belt Power's current team, Belt Power CEO Rick McClure said.
Regional Supply, based in Marietta, Ga., is a lightweight conveyor belt distributor focused on customers in the eastern U.S., according to the release.
The combination is a critical step for Belt Power in becoming a pre-eminent distributor in the lightweight belting market, Shorehill Managing Director Rob Hogan said.
Working with Shorehill and Belt Power allowed the Regional Supply team to make an educated decision about the future of its business while keeping the importance of its employees and culture preservation in mind, Casagrande said.
NXT Capital supported Belt Power with incremental debt capital, and Fredrikson & Byron P.A. and Kirkland & Ellis served as its legal advisors.