PRODUCTS,MECHANICAL AND MOTION SYSTEMS,CONSTRUCTION
Komatsu | December 21, 2022
Komatsu today announced that it has entered into an agreement to acquire GHH Group GmbH (GHH), a manufacturer of underground mining, tunnelling and special civil engineering equipment headquartered in Gelsenkirchen, Germany.
Founded in the 1960s and currently part of the German-owned Schmidt Kranz Group, GHH offers a wide range of equipment focused on loaders (LHDs) and articulated dump trucks in the mid-seam mass mining, narrow vein and low-profile market segments The company also supports customers with aftermarket parts and service support through the entire life of each machine. With this acquisition, Komatsu will add GHH’s factories and rebuild facilities in key markets, in addition to its robust product offerings and talented staff.
“We are very excited about this acquisition as it represents a great opportunity for Komatsu to expand its offerings for underground mining equipment and accelerate new product development through synergies with Komatsu’s existing team and product offerings, By adding GHH’s factories and rebuild facilities in key markets in Europe, South Africa, India and Chile, we also aim to strengthen production and service capabilities for our customers.”
Peter Salditt, president and CEO, Komatsu Mining Corp
Komatsu intends to continue the excellent service GHH provides and plans to support business as usual post-acquisition. The combined team will then work together to expand Komatsu’s offering for underground mining equipment and increase customer access to products in new territories.
“GHH is excited to be able to start a new journey with a strong player in the mining world. This opens huge doors for our people and our products to develop further and grow beyond what we could have hoped for, This is the next logical step in becoming a true global player and we look forward to becoming part of the Komatsu family.”
Dr. Jan Petzold, CEO GHH Group
Per the company’s ongoing mid-term management plan “DANTOTSU Value - Together, to ‘The Next’ for sustainable growth,” Komatsu is working to expand offerings for underground hard rock mining, creating new value for customers with the development of new equipment, processes and technologies that will help operations step forward to the next stage for the workplace of the future and provide a more sustainable environment for the next generation.
About Komatsu
Komatsu develops and supplies technologies, equipment and services for the construction, mining, forklift, industrial and forestry markets. For a century, the company has been creating value for its customers through manufacturing and technology innovation, partnering with others to empower a sustainable future where people, business and the planet thrive together. Front-line industries worldwide use Komatsu solutions to develop modern infrastructure, extract fundamental minerals, maintain forests and create consumer products. The company's global service and distributor networks support customer operations to enhance safety and productivity while optimizing performance.
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ROBOTICS AND AUTOMATION,ENGINEERING TECH
VI-Grade | December 28, 2022
Digital reality solutions leader, Hexagon’s partnership with professional driving simulator solutions provider, VI-grade to make way for high-fidelity vehicle simulators.
Hexagon AB's Adams Real Time multibody dynamics simulation software is now validated for use on VI-grade Driving Simulators, as recently announced by the Manufacturing Intelligence division of Hexagon. This allows carmakers and tier-one automotive suppliers to develop safe and desirable driver experiences without physical prototyping efficiently.
Automotive engineers use Adams to create virtual vehicle prototypes and to bridge the gap between physical tests. Adams Real Time Hardware-in-the-Loop (HIL) high-fidelity simulations are used to evaluate engineering decisions for the ride, handling, and durability targets to produce safe and comfortable vehicles.
VI-grade, a leading provider of driving simulator technology, allows engineers to physically test Computer Aided Engineering (CAE) models without needing system or vehicle prototypes.
Adams Real Time is now VI-Certified, which only includes third-party solutions that pass stringent real-time reliability and safety tests. In addition, Hexagon relied on its years of collaboration with VI-grade to bring high-fidelity physics to VI-grade's experiential driving platforms. This makes it easier to replicate on-road experiences in the manufacturer's test facilities, where engineers and focus groups can improve future vehicles.
“The program will reduce the integration burden on our customers by ensuring that the best of our third-party partner software tools work seamlessly on our simulators. Through our partnership, Hexagon and VI-grade are providing a valuable, time-saving solution that makes it easier for our customers to use virtual prototyping with confidence to save cost and get safe, compelling products to market on time.”
About Hexagon AB
Hexagon is the world's leading provider of digital reality solutions. We use data to improve efficiency, productivity, quality, and safety in industrial, manufacturing, infrastructure, public sector, and mobility applications. Our technologies make production and people-related ecosystems more connected and autonomous for a scalable, sustainable future.
AboutVI-grade
VI-grade is a leading provider of real-time simulation and professional driving simulator solutions that help the transportation industry accelerate product development. VI-grade provides turnkey simulator solutions that include proprietary software, hardware, services, and an open framework for customization through its global network of trusted partners.
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CONSTRUCTION
Core Roofing | November 30, 2022
Shoreline Equity Partners, LLC ("Shoreline" or the "Firm"), a purpose-driven lower middle market private equity firm, has partnered with Core Roofing Systems, LLC ("Core Roofing" or the "Company"). Headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial re-roofing, maintenance, repair, inspection, and new roofing systems across the Southeast. The Company was founded by Dusty DeVore in 2002 and has since grown to more than 180 employees with a diverse set of customers across Georgia, Florida, Alabama, Arkansas, Mississippi, North Carolina, South Carolina, and Virginia. With a 20+ year history and respected brand and reputation, Core Roofing has successfully positioned itself as one of the leading commercial roofing service providers in the Southeast.
Moving forward, and in partnership with Shoreline, Core Roofing is looking to execute on an aggressive growth plan via organic initiatives and acquisitions. The new partnership with Shoreline provides the Company with both the acquisition experience and access to capital needed to partner with other leading commercial roofing businesses across the U.S. Dusty DeVore has maintained a significant ownership position in the business and will continue to lead the Company going forward.
"Dusty and the entire team have done an outstanding job of growing Core Roofing into a clear market leader over the last 20 years. The Company has built an exceptional brand and reputation as the go-to commercial roofing service provider for its customers and suppliers. It was clear from our first conversation with Dusty that Core Roofing would be a great fit for Shoreline due to the quality of the business and its people. We are grateful to partner with Dusty and the team to continue building a leading commercial roofing platform across the Southeast and nationally."
-Mike Hand , Managing Partner at Shoreline.
Zach Mittelmark , Principal at Shoreline, said, Upon meeting with Dusty and the broader Core Roofing team, we immediately knew we had found the right platform to partner with in the commercial roofing space. Core Roofing has built an incredibly unique and difficult-to-replicate maintenance and repair service offering which allows them to provide superior customer service throughout the full lifecycle of every commercial roof. We are beyond excited to help Core Roofing embark on an ambitious add-on acquisition story with the goal of becoming one of the largest commercial re-roofing companies in the US over the years to come.
"We could not be more thrilled to partner with Shoreline. It was incredibly important that we found a partner that aligned with our values. Core Roofing was built on the strength of the relationships with our customers, suppliers, employees, and the community at large, and Shoreline shares our belief in the importance of consistently delivering for those key constituents. We are excited to accelerate our growth both organically and through acquisitions in partnership with the Shoreline team while ensuring that we maintain our high standards for work quality, customer service, and relationships for which Core Roofing is known."
-Dusty DeVore , Founder and CEO of Core Roofing.
The transaction for Shoreline was led by Mike Hand, Managing Partner; Zach Mittelmark, Principal; Mike Mancini, Senior Associate; Pete Bouret, Senior Associate; and Mike Dolak, Associate. Harvey & Company served as an advisor to Shoreline, while South State Bank provided the financing for the transaction .
About Core Roofing:
Founded in 2002 and headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial roofing solutions including re-roofing, maintenance, repair, inspection, and new roofing systems. With over 180 employees and offices in Georgia and Florida, Core serves a diversified customer base across the Southeast, including commercial and industrial property owners, property management companies, REITs, and municipalities, among others.
About Shoreline:
Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a "win-win" proposition for shareholders, employees, customers, vendors, and the communities within which the Firm's companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. Investing out of the Firm's inaugural $300 million fund, Shoreline seeks to lead equity investments of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $25 million to $250 million and EBITDA of $3 million to $25 million. The Firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others.
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