December 6 2004
G&T Conveyor Company Acquires The Horsley Company
Tavares, FL - December 6, 2004 - G&T Conveyor Company announced it has acquired The Horsley Company ("Horsley"), a manufacturer and installer of custom baggage conveyor systems. Horsley is headquartered in Salt Lake City, Utah. The terms of the transaction were not disclosed.
"We welcome all the Horsley employees into the G&T family and are excited about enhancing our products and best practices to continue to be the leader in our industry", said Ted Majewski, G&T Principal. "The combined expertise and efficiencies of these two great US- owned companies will make us even more competitive in our thriving market." With this acquisition, the G&T Conveyor team gains additional personnel and manufacturing capacity to continue providing airports with innovative solutions for in-line security solutions. The combined knowledge of equipment, controls, and software will ensure that airports achieve the highest operational efficiency from their baggage handling systems.
"We will continue to operate independently as The Horsley Company", said Brad Stein, General Manager of Horsley.
G&T Conveyor Company is majority owned by Brynwood Partners L.P., a private investment firm based in Greenwich, CT. Henk Hartong, Jr., Senior Managing Partner of Brynwood said, "We are excited to add this investment to the Brynwood Partners family of companies. This investment is consistent with our strategy of building G&T into a significant competitor in the airport baggage handling systems market."
About G&T Conveyor Company G&T is the largest privately held baggage handling systems manufacturer in the United States. Through its Elite Line Services division ("ELS"), G&T also provides operations and maintenance support for airport services including baggage handling systems, passenger loading bridges and ground support equipment. For more information on the company, please visit www.gtconveyor.com.
About Brynwood Partners Founded in 1984, Brynwood Partners is a private equity fund which invests in small lower middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood have made investments in 17 portfolio companies and have successfully partnered with management and owners who want to continue to run their businesses but need the financial and operating partner support Brynwood uniquely provides. Brynwood Partners is based in Greenwich, CT. For more information, please visit: www.brynwoodpartners.com.