Platte River Equity Announces the Acquisition of Belt Power, LLC

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Aug 23, 2022, 12:42 ET

DENVER, Aug. 23, 2022 /PRNewswire/ -- Platte River Equity ("Platte River") is pleased to announce the acquisition of Belt Power, LLC ("Belt Power" or the "Company") from Shorehill Capital. Belt Power is a full-service, value-added distributor and fabricator of conveyor system components, including conveyor belts, equipment and accessories.

"As the largest independent distributor, Belt Power has the industry knowledge, product line, customized fabrication capabilities and 24/7 installation services that differentiates itself from its peers," said Mark Brown, Platte River Managing Director. "Platte River was attracted to the opportunity to further scale Belt Power's national presence and is excited to partner with the management team to grow the Company's leadership position in the broader industrial automation end markets."

Don Heitmeier, CEO of Belt Power, said, "We look forward to partnering with Platte River and will benefit from the firm's significant experience with industrial distribution businesses. We are excited about continuing to grow our geographic presence and to expand our product offering and breadth and depth of services. We are confident Platte River is the right partner to build upon our history as the leading distributor of conveying solutions."

Platte River invested out of its fourth fund, Platte River Equity IV, L.P. Bartlit Beck LLP served as legal counsel to Platte River.

About Belt Power

Headquartered in Marietta, GA, with 12 facilities strategically located across the U.S., Belt Power is the industry's largest, independent distributor and fabricator of conveyor system components, including conveyor belts, equipment, accessories, rubber hose and gasket products. The Company sells into a diverse set of end markets, with a focus on the food, packaging, industrial and material handling segments. Belt Power supports the high-touch needs of its customers and serves as a value-added partner by offering rapid 24/7 on-site installation, maintenance and repair services to maximize uptime and productivity for mission critical automation applications. For additional information, please visit www.beltpower.com.

About Platte River Equity

Founded in 2006 and based in Denver, CO, Platte River Equity is a private equity firm focused on investments in established lower middle market operating companies within targeted industrial sectors where it has substantial operating and investing experience. Platte River utilizes conservative capital structures in order to invest in future growth opportunities and withstand changing economic environments. The firm also provides significant ongoing support to its portfolio companies through dedicated resources across functional areas.

The firm has raised funds with committed capital in excess of $1.3 billion and is currently investing out of its $625 million fourth fund. The Platte River team is the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams. For additional information, please visit www.platteriverequity.com.

Contact

Brian P. Klaban
Director of Business Development & Debt Capital Markets
Phone #: +1 303 292 7317
Email: [email protected]

Lauren A. Metz
Vice President of Business Development
Phone #: +1 303 292 7321
Email: [email protected]

SOURCE Platte River Equity