Developing Lower Middle-Market Industrial Growth Businesses the Right Way.

Developing Lower Middle-Market Industrial Growth Businesses the Right Way.

Developing Lower Middle-Market Industrial Growth Businesses the Right Way.

$3M – $15M

EBITDA

$20M – $150M

ENTERPRISE VALUE

$15M – $75M

EQUITY INVESTMENT
(INCLUDING ADD-ONS)

15% – 45%+

EBITDA MARGINS

May River Capital is a private equity investment firm based in Chicago and founded by three partners who seek to help lower middle-market, high-caliber industrial businesses grow and thrive. We take pride in our culture of partnership and collaboration—a characteristic rooted in the fundamental appreciation of the human element in business.

AN INCH WIDE AND A MILE DEEP, BY DESIGN

Industrial is all we do. We focus on lower middle-market, high-caliber industrial growth businesses that have the potential to scale into larger, more dynamic enterprises.

OUR PORTFOLIO

EXPERTISE THAT’S EARNED

We offer our portfolio companies practical expertise and strategic guidance that’s forged through decades of experience. Meet our team.

OUR TEAM

LET’S GET IN TOUCH

We value relationships and welcome the opportunity to meet the people behind leading industrial businesses. Please reach out to us.

Case Studies

Read about how we work with our management teams and what we’ve accomplished together.

DICKSON

HUNT VALVE

INDUSTRIAL FLOW SOLUTIONS

Latest News

Uncategorized

May River Capital Completes Sale of Precision Roll Solutions, a Full-Service Provider of Highly-Engineered Precision Roll Solutions and Related Process Componentry

by May River Capital • June 1, 2022

Uncategorized

Unibloc Pump, a May River Capital Portfolio Company, Rebrands to Unibloc Hygienic Technologies

by May River Capital • April 26, 2022

Uncategorized

May River Capital Announces Creation of New Material Handling Equipment and Industrial Automation Platform, Automated Handling Solutions

by May River Capital • April 26, 2022

Uncategorized

Industrial Flow Solutions™, a Global Fluid Management Solutions Provider, Announces Deal to Acquire Dreno Pompe, a Designer and Manufacturer of Wastewater Applications

by May River Capital • January 26, 2022

All News

PRIMARY DRIVERS: STRINGENT SAFETY STANDARDS WITHIN HYGIENIC PROCESSING MARKETS; CONTINUED INVESTMENTS IN HIGHLY EFFICIENT, EASY TO MAINTAIN HYGIENIC PROCESS TECHNOLOGIES

INVESTMENT: 2020, 2021

Unibloc Hygienic Technologies (UHT) is a manufacturer of precision-engineered positive displacement pumps, air operated double diaphragm pumps, and other hygienic flow control products. UHT’s products are deployed into critical hygienic processes in the food and beverage, bakery and confection, meat and poultry, brewery, pharmaceutical, and transportation industries

For more information, please visit unibloctech.com.

PRIMARY DRIVERS: INCREASING DEMAND FOR INDUSTRIAL AUTOMATION EQUIPMENT AND SOLUTIONS THAT DRIVE PLANT MODERNIZATION AND OPERATIONAL EFFICIENCIES; EXPANDING NEED FOR CUSTOMIZABLE HANDLING SOLUTIONS THAT ARE EASY-TO-CLEAN AND WELL-SUITED FOR CONTROLLED PRODUCTION ENVIRONMENTS

INVESTMENT: 2021, 2022

Automated Handling Solutions (AHS) is a provider of automation solutions, as well as specialized material handling equipment such as enclosed conveyor systems. AHS’ products serve customers in regulated end markets such as food and beverage, pharmaceutical, nutraceutical, specialty chemical, and general industrial processing.

For more information, please visit automatedhandlingsolutions.com.

PRIMARY DRIVERS: REGULATED HEALTHCARE, PHARMACEUTICAL, FOOD & BEVERAGE, AND MEDICAL DEVICE END MARKETS

INVESTMENT: 2018, 2019

Dickson is a Test & Measurement compliance partner that develops environmental monitoring systems (temperature, humidity, pressure and other variables) to meet regulatory requirements and protect products for various markets including: health services, pharmaceutical, medical devices, and food & beverage. In 2019, Dickson acquired Oceasoft, a European leader in environmental monitoring systems with a full suite of innovative solutions.

For more information on Dickson, please visit dicksondata.com

For more information on Oceasoft, please visit oceasoft.com

VIEW CASE STUDY

PRIMARY DRIVERS: RADIOTHERAPY SYSTEMS AND SURGICAL ROBOTS. ALSO OTHER COOL THINGS LIKE ROCKET ENGINES AND LINEAR ACCELERATORS

Investment: 2012, 2014

GCM is a manufacturer of low-to-medium volume, mission critical precision components and system assemblies for market leading medtech, aerospace, industrial, and research clients. The company operates in three locations including Silicon Valley, Chicago, and Dongguan China.

For more information, please visit gogcm.com.

PRIMARY DRIVERS: E-COMMERCE AND THE “BOX” ECONOMY, ESSENTIAL CONSUMER GOODS, LIFE SCIENCES, AND HOME IMPROVEMENT

INVESTMENT: 2016, 2017, 2018

Precision Roll Solutions is a full-service provider of highly-engineered cylindrical rolls, plates, and related process componentry used in corrugated packaging, consumer goods (tissue & towel), and other nondiscretionary manufacturing applications.

For more information, please visit precisionrollsolutions.com

Ryan Cassil

Functional expert ERG member that supports both new investment opportunities as well as the existing May River portfolio. Former finance executive at Tempus Labs. Prior experience also includes financial, commercial, and operational leadership roles with Kraft Heinz, a 3G Capital portfolio company. Specializes in business systems, systems integration, and financial reporting optimization.

Susan Newman

Functional expert ERG member that supports both new investment opportunities as well as the existing May River portfolio. Former human resources executive at DS Smith. Prior experience includes human resources leadership roles with Interstate Resources and MeadWestvaco. Specializes in labor and employee relations.

John Wilson

Current President of Industrial Flow Solutions. Former operating executive at Emerson. Extensive M&A and integration experience. International experience includes multiple leadership roles in Asia. Specializes in industrial and engineered product sales, marketing, operations, and design.

Rick Weiler

Current CEO of Dickson. Former CEO of Atlas Material Testing. Prior career includes senior leadership roles with Micronics, PerkinElmer Optoelectronics, Allied Signal, and United Technologies. Specializes in Test & Measurement instrumentation and engineered products.

Chris Stevens

Current CEO of Unibloc Hygienic Technologies and Board Member of Industrial Flow Solutions. Former operating executive at Honeywell, Pentair, Tyco International, Fisher Scientific, McKinsey & Company, and Westinghouse Electric. International experience includes leadership roles in Australia and Switzerland. Specializes in industrial products manufacturing, marketing, and sales.

Brad Sterner

Current CEO of Automated Handling Solutions and Executive Chairman of Advanced Material Processing. Prior Board Member of Hunt Valve and Industrial Flow Solutions. Former operating executive at Colfax, Rexnord, IDEX, Danaher and Emerson. Extensive operations and M&A experience. Specializes in high-value manufacturing and engineered products.

Jim Morgan

Current CEO of PaperTech. Former operating executive at DS Smith, Interstate Resources, Duro Bag Manufacturing Co, Bay State Paper Company and Gaylord Container Corp, and has held various board roles with leading industry associations in the paper and packaging sector. Extensive operations and leadership experience. Specializes in high value packaging.

Francois Marti

Current Board Member of NSL Analytical. Functional expert ERG member that supports both new investment opportunities as well as the existing May River portfolio in Europe. Former COO of SGS North America and former CEO of FCA Services (a division of Fiat Chrysler). International experience includes leadership roles in North America, South America, and Europe. Specializes in TICC, industrial manufacturing, and industrial services.

Dan Drexler

Chief Investment Officer at Longview Asset Management, a Chicago-based, multi-strategy investment firm which invests for individuals, trusts, and foundations. The firm uses intensive industry and company research to manage its three principal investment strategies: constructing portfolios of publicly traded securities, making equity investments in private companies, and purchasing limited partnership interests in private equity funds and hedge funds operated by independent investment firms. Former Director of Operations of Quality Products, Inc. and current board member of Arbor Lodging Partners, Albany Bank & Trust, Chicago Atlantic, RF Investment Partners, and Timberhill, as well as a senior advisor to Right Lane Capital

Rahul Deshmukh

Current CEO-in-waiting and looking to develop a new investment platform with May River. Former operating executive at Flow Dry Technology, Dover Corporation, Emerson, and Monsanto. International experience includes leadership roles in China, India, Hungary, Czech Republic, and Brazil. Specializes in engineered products and instrumentation.

PRIMARY DRIVERS: WATER & WASTE WATER MANAGEMENT IN SPECIALTY, SEVERE DUTY PRODUCTION ENVIRONMENTS

INVESTMENT: 2017, 2019, 2021, 2022
Industrial Flow Solutions specializes in the design, manufacturing, sales and service of pumping and fluid management solutions for harsh, rugged environments.

For more information, please visit industrialflowsolutions.com

VIEW CASE STUDY

PRIMARY DRIVERS: GROWING GLOBALIZED DEMAND FOR REGULATED TESTING SERVICES, EVER-INCREASING TESTING & MATERIALS COMPLEXITY, AND INCREASED CORPORATE OUTSOURCING OF R&D AS WELL AS QUALITY ASSURANCE FUNCTIONS

INVESTMENT: 2020

NSL Analytical provides independent laboratory testing services to a diverse array of customers and end markets where testing speed, accuracy, and consistency is mission critical to operations and compliance.

For more information, please visit nslanalytical.com.

PRIMARY DRIVERS: INTENSIFYING SANITARY AND HYGIENIC STANDARDS IN THE REGULATED FOOD AND PHARMACEUTICAL END MARKETS

INVESTMENT: 2018, 2019

Advanced Material Processing, comprised of Marion Process Solutions and Kason Corporation, is a manufacturer of material processing equipment. It specializes in highly-engineered mixing, drying, separation and thermal/moisture control equipment and systems.

For more information on Advanced Material Processing, please visit www.amprocessing.com

For more information on Marion, please visit marionsolutions.com

For more information on Kason, please visit kason.com

PRIMARY DRIVERS: OPERATION AND MAINTENANCE OF A 300+ VESSEL US NAVY

INVESTMENT: 2015, 2017, 2018, 2019

Hunt Valve brings nearly 100 years of fluid power engineering innovations and solutions to a wide range of industrial and military customers. It specializes in severe-duty valves, actuators, and complementary engineered components and system solutions for applications that include primary metals, energy, process and U.S. Navy nuclear-powered vessels.

For more information, please visit huntvalve.com

VIEW CASE STUDY

PRIMARY DRIVERS: CANNED BEVERAGES AND A RISING GLOBAL MIDDLE CLASS

INVESTMENT: 2014

Pride Engineering designs and manufactures highly engineered, mission critical machine tools and equipment used in the production of two-piece metal cans for the beverage and food industries. Pride’s product offering includes can body-forming tool packs, can bottom formers, precision grinders, and the Guardian™ line of Over Travel Sensors. Pride’s products are used in nearly 400 can-making lines, and are considered the industry standard by two-piece food and beverage can makers around the world.

For more information, please visit pridecan.com

PRIMARY DRIVERS: CONSUMER PREFERENCES FOR SUSTAINABLE FOOD PACKAGING, MARKET SHIFT AWAY FROM SINGLE-USE PLASTICS

INVESTMENT: 2020

PaperTech is a leading manufacturer of paperboard packaging products to the frozen food industry and foodservice markets. PaperTech’s trays and bowls are environmentally friendly and made from 90% or greater renewable and sustainable materials, which makes the company well positioned to benefit from ongoing tailwinds driven by an increasing global focus on the circular economy and a shift away from single-use plastics.

For more information, please visit papertrays.com.

Rick Shand

Founder and former CEO of OakRiver Technology, a PE-backed manufacturer of automation equipment for the medical device sector. Prior experience includes 3M and Seagate Technology.

Eric Nielsen

Prior experience includes senior leadership roles with Joy Global, Terex, Volvo Construction, and MacGregor. Specializes in industrial equipment and heavy manufacturing.

Paul Schulz

Former CEO of Webex. Specializes in high-value manufacturing and engineered products. Current board member and Executive Chairman of Precision Roll Solutions. Prior board member of Pride Engineering.