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.
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.
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.
Brian P. Klaban Director of Business Development & Debt Capital Markets Phone #: +1 303 292 7317 Email: 343178@email4pr.com
Lauren A. Metz Vice President of Business Development Phone #: +1 303 292 7321 Email: 343178@email4pr.com
View original content:https://www.prnewswire.com/news-releases/platte-river-equity-announces-the-acquisition-of-belt-power-llc-301610981.html
Nio (NYSE: NIO) reported increasing losses in its second-quarter earnings report this week, but investors are shrugging that off, sending shares soaring Friday morning. Although its profit margins have been on a downward trend, new models being launched could turn that around in the coming years. Consumer prices in China increased at a slower pace than many expected in August, and producer inflation sank to the lowest level since February 2021, reports Reuters.
Berkshire Hathaway is on pace to collect $6.07 billion in dividend income over the next 12 months. Just five holdings will account for 71% of total payouts.
Advanced Micro Devices, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $AMD performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
Canadian cannabis company Tilray Brands (NASDAQ: TLRY) hasn't been a great stock for shareholders over the last year, with shares down more than 70%. Part of the reason for that has been the lack of progress toward legalizing cannabis in the U.S. But Tilray has established a presence south of the Canadian border and has profitable beer and spirits businesses there. An expansion of one of those businesses had investors pushing Tilray stock 4.6% higher as of 12:40 p.m. ET Friday.
Investors are seeing higher growth potential for QuantumScape's battery cell technology after an interesting EV industry development.
The S&P 500 is on again, off again all year. But investors clearly have a "buy list" of stocks they want to own when the rally looks real.
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last two months, and at least one strategist believes that the market won’t be testing those lows again this year. JPMorgan's Jason Hunter believes that inflation may have peaked, and that the upcoming CPI report will provide additional evidence of that. “We
Recently, Zacks.com users have been paying close attention to AT&T (T). This makes it worthwhile to examine what the stock has in store.
FuelCell Energy (FCEL) posts wider-than-expected fiscal Q3 loss. FCEL's backlog remains strong and the company continues to deliver modules and meet customer needs through clean energy generation.
On Friday, the company unveiled the Robinhood Investor Index, which captures how customers invest based on the top 100 most owned stocks on the platform.
Gary Gensler had strong words for the crypto industry in a Thursday speech, telling an audience of lawyers that the "vast majority" of the nearly 10,000 existing crypto tokens are securities.
In this article, we discuss 10 dividend stocks with over 8% yield to buy in September. You can skip our detailed analysis of top high dividend stocks, and go directly to read 5 Best Dividend Stocks with Over 8% Yield You Can Buy in September. In the current market situation, investors are looking for different […]
See how to gauge demand and strength in Apple, Nasdaq and other stocks on the latest list of new buys by the best mutual funds.
AT&T income-hungry shareholders should have seen it coming. In April last year, a month before announcing the spinoff of its media division to shareholders in the form of shares of a 71% stake in the newly created Warner Bros. Discovery Chief Executive Officer John Stankey assured investors that “our deliberate capital-allocation plan allowed us to invest and sustain our dividend at current levels, which we believe is attractive.” AT&T’s eventual failure to raise the dividend in 2021 broke a 34-year streak and saw it booted out of the vaunted S&P 500 Dividend Aristocrats Index.
Pinterest (PINS) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
The old saying “different strokes for different folks” certainly rings true in the stock market. Some investors prefer growth stocks like Tesla Inc. that are volatile but have produced years of outstanding appreciation. Other folks prefer less volatile stocks like Johnson & Johnson whose growth may be slower but also add dividends of 2% to 3% annually to the total performance. In addition, there are income investors, who strictly look for stocks that will provide high-yield dividends year after
A couple of catalysts drove the crypto trading specialist higher, including an upgrade by a Wall Street analyst and news it plans to fund a court battle challenging a U.S. Treasury Department decision. Daiwa analyst Carlton Lai upgraded Coinbase to buy from outperform (weak buy), while maintaining his price target of $100. Furthermore, after "years of delay," he views the upcoming debut of Ethereum's (CRYPTO: ETH) The Merge as "one of the crypto industry's biggest events this year."
Yahoo Finance Live anchors discuss fourth-quarter earnings for Zscaler.
Fintech stocks were crushed during the market's decline this year. Thus, they tend bounce harder on recoveries.
Yahoo Finance Live anchors discuss meme stocks and how they are performing amid a meme-fueled week.