A Cablevey Conveyers installation. Images courtesy of Cablevey.
Chicago-based private equity firm May River Capital has acquired Oskaloosa, Iowa-based Cablevey Conveyers, makers of tubular drag conveyer systems whose installations can be found throughout the coffee industry.
The acquisition was finalized on Dec. 22, on the exact day of Cablevey’s 50th anniversary as a company. A Cablevey representative declined to disclose the financial details of the acquisition to DCN.
“Cablevey’s focus on solving conveyance application challenges using our proprietary cable drag technology, and the resulting dramatic growth has positioned the company as an anchor asset to build a larger conveyance platform,” Cablevey CEO Gary Hall said in an announcement of the deal. “The additional investments now possible with May River allow us to continue to increase market share with existing and top tier customers in our core food and beverage sectors, including tree…
