MPE Partners and Webster Industries Announce Strategic Investment in Allor-Plesh Manufacturing

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Jul 11, 2024, 14:26 ET

CLEVELAND and BOSTON, July 11, 2024 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity") along with portfolio company Webster Industries ("Webster"), announced a strategic investment in Bar Holdings, Inc. d/b/a Allor Manufacturing and Plesh Industries ("Allor" or the "Company"). Allor is a leading provider of new replacement parts, and refurbished components primarily for the steel industry. The Company manufactures and services a wide range of aftermarket products for leveling and conveyance systems including chains, wheels, levelers, work rolls, and bearings.

MPE and Webster partnered in the transaction with Allor's President, Tony Allor, and its management team. AJ Felter, Chief Executive Officer of Webster, said, "Allor has a rich history and sterling reputation, with Tony establishing the Company as the go-to-provider in its industry. We look forward to better serving our combined customer base with a broader set of chain and leveling products and aftermarket service capabilities."

Tony Allor noted, "Webster's long track record of manufacturing excellence, customer focus, and employee-oriented culture resonated with us when seeking out a partner. I am excited to continue this journey with AJ and his team to continue to carry on the legacy of my father, who founded Allor in 1970, and grow the Allor and Plesh brands."

Constantine Elefter, Partner at MPE, added, "Allor is a great addition to Webster. Allor has a strong leadership team who has positioned the Company for continued commercial and operational success. We are thrilled about this strategic combination and working alongside Tony and the Allor team."

Fidelity Direct Lending and Apogem Capital provided financing to support the transaction. Jones Day served as legal advisor to MPE. Carleton McKenna & Co. served as financial advisor to MPE. Terms of the transaction were not disclosed.

About Allor-Plesh Manufacturing
Headquartered in Brighton, MI, Allor is a leading provider of custom designs and solutions in the manufacturing of conveyors, levelers, chain, wheels, rolls, bearings, and other replacement components. The Company serves a range of industrial end users, including steel mills and service centers, and plays a critical role in maintaining customers' leveling and conveyance equipment to support ongoing operations. For more information, please visit https://allorpleshinc.com/.

About Webster Industries
Founded in 1876 and headquartered in Tiffin, OH, Webster is a leading manufacturer of engineered class chain, engineered class sprockets, and vibratory equipment for material handling and power transmission applications. Webster serves OEMs / systems integrators, power transmission distributors, and end users across a diverse set of industrial end markets including forest products, grain, recycling, and aggregates. Webster operates from facilities in Tiffin, OH, Newberg, OR, and Meridian, MS, and goes to market under the Webster and Action brand names. For more information, please visit https://www.websterchain.com/ and https://actionconveyors.com/.

About MPE Partners
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $8 million and $40 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.

SOURCE MPE Partners