Duravant Acquires PPM Technologies from Stonehenge Partners
Engineered equipment leader, Duravant, expands food processing solutions portfolio with acquisition of PPM Technologies.
Downers Grove, IL – July 24, 2023 – Duravant LLC (“Duravant”), a global engineered equipment and automation solutions provider to the food processing, packaging, and material handling sectors, announced today that it has acquired PPM Technologies (“PPM”) from Stonehenge Partners. PPM is a leading manufacturer of high-quality conveying, coating, and thermal equipment headquartered in Newberg, OR that designs, engineers, and manufactures processing solutions for a wide range of end markets including snack foods, confectionary, cereals, nutraceuticals, nuts and seeds, vegetables, meats, poultry, and seafood. PPM greatly enhances Duravant’s portfolio of automation solutions with new products and technologies that are highly complementary to those of Key Technology, a leader in sorting and food handling solutions and a member of the Duravant family of operating companies.
“PPM is an ideal complement to our existing suite of products in our food processing and handling equipment portfolio,” said Mike Kachmer, President and CEO of Duravant. “Our new partnership with PPM bolsters our integration services capabilities which are in high demand as customers are increasingly relying on our applications and design expertise to deliver complete turnkey lines.”
“We have enjoyed a great working relationship with the PPM team over the last four and a half years,” said Andrew Bohutinsky, Managing Partner of Stonehenge Partners. “We are very pleased with the growth of the business under our stewardship and look forward to its continued success within the Duravant family of companies.”
PPM is an innovator of food handling technology with over 70 years of experience in designing and manufacturing conveyors and graders. The company has expanded their portfolio to include coating and thermal technologies to meet the growing demand for end-to-end integrated processing lines. PPM serves national and multi-national customers in over 50 countries with leading-edge designs and customized solutions engineered to optimize efficiency and production. PPM has two manufacturing sites in the US, a sales office in the UK, direct sales support in Mexico, and provides lifetime support to their global customer base with aftermarket parts and services performed by expert technicians.
“We are very excited as we look ahead at our next phase of growth with Duravant,” said Robert Pedersen, President of PPM. “PPM is a perfect complement to Key Technology, and our new partnership will enable us to collaborate on innovation, new product development and strategic growth initiatives, including accelerating our expansion in Europe and Latin America. Plus, by leveraging the group’s extensive service offerings and infrastructure, we will further enhance the overall lifetime value we deliver to our customers.”
About Duravant
Headquartered in Downers Grove, IL, Duravant is a global engineered equipment company with manufacturing, sales and service facilities throughout North America, South America, Europe and Asia. Through their portfolio of operating companies, Duravant delivers trusted end-to-end automation solutions for customers and partners through engineering and integration expertise, project management and operational excellence. With worldwide sales distribution and service networks, they provide immediate and lifetime aftermarket support to all the markets they serve in the food processing, packaging and material handling sectors. Duravant’s market-leading brands are synonymous with innovation, durability and reliability. For more information, visit www.duravant.com.
About PPM Technologies
PPM Technologies is a global automation solutions provider of smartly engineered equipment and integrated lines for the food processing industry. PPM designs, engineers and manufactures equipment for a wide array of food products, including snack foods, cereals, confectionaries, nuts and seeds, vegetables, meats, poultry, seafood and more. Their portfolio includes conveying, coating, grading, frying and cooling equipment that can be customized to integrate with virtually any production line. PPM has developed an impressive global installed base of over 10,000 machines and services customers in over 50 countries. For more information, visit www.ppmtech.com.
About Stonehenge Partners
Stonehenge Partners is an Ohio based private equity fund that focuses exclusively on middle market companies. The company manages more than $1 billion and is currently investing out of its sixth institutional fund. Stonehenge has a long history of partnering with entrepreneurs and management teams who are focused on improving their companies and building equity value. The company provides flexible capital that meets the needs of all stakeholders including majority equity, minority equity, debt, and combinations thereof.
Media Contact:
Eleni Yianas
Duravant
Vice President, Marketing
630.635.3914
eleni.yianas@duravant.com
www.duravant.com
Stonehenge Partners Media Contact:
Chris Buehler
Director, Business Development
cmbuehler@stonehengepartners.com