DNS Capital Announces Acquisition of IMI Holdings

Leading provider of highly engineered solutions for magnetic separation and material handling, particle processing and process automation applications

CHICAGO--()--DNS Capital today announced the acquisition of IMI Holding Corp. (“IMI Holdings”), the parent company of Industrial Magnetics, Inc. (“IMI”), Prater Industries, Inc. and Sterling Controls, Inc., from Chattanooga-based private equity firm, River Associates Investments, LLC. Terms of the transaction were not disclosed. DNS Capital is the investment office and internal merchant bank for the business enterprise of Gigi Pritzker and Michael Pucker.

Headquartered in Boyne City, Michigan, IMI is a leading provider of highly engineered solutions for magnetic separation and material handling, particle processing and process automation applications. The company’s products are used to handle, separate, lift and process a diverse array of materials across a range of markets. Applications of the company’s expertise include metal removal, ingredient/particle sorting and sizing, and product purity/quality control. IMI serves a number of industries, including food processing, industrial MRO, conveying, bulk material and aggregate handling and recycling, among others. IMI’s products and solutions improve operating efficiency, reduce costs, increase product purity and safety, and protect manufacturing equipment from damage and degradation.

“In the IMI team, we found true partners who we can be aligned with on a long-term basis,” commented Michael Pucker, President and CEO of DNS Capital. “Bud Shear and his team are first-class operators and we look forward to working with them to build upon the company’s long and distinguished history.”

“My team and I are excited to have found a partner who understands the importance of preserving IMI’s unique culture and approach to serving its customers and employees,” added IMI CEO, Bud Shear. “We look forward to a long and productive relationship with the DNS family.”

Baird and Miller & Martin acted as financial advisor and legal counsel, respectively, for River Associates Investments, LLC and the company. DNS Capital and Latham & Watkins LLP acted as financial advisor and legal counsel, respectively, for the acquirer.

About IMI Holdings

IMI Holdings consists of three entities - IMI, Prater Industries, Inc. (“Prater”) and Sterling Controls, Inc. (“Sterling”)

IMI is a leading provider of highly engineered solutions for magnetic separation and material handling, particle processing and process automation applications. The company’s products are used to handle, separate, lift and process as part of industrial production lines, with applications including metal removal, ingredient/particle sorting and sizing, and product purity/quality control. IMI serves a range of applications and industries, including food processing, industrial MRO, conveying, bulk material and aggregate handling and recycling, among others. To learn more about IMI, please visit: www.magnetics.com.

To learn more about Prater, please visit: https://www.praterindustries.com/.

To learn more about Sterling, please visit: https://www.sterlingcontrols.com/.

About DNS Capital

DNS Capital is the investment office and internal merchant bank for the business enterprise of Gigi Pritzker, Michael Pucker and their daughters. DNS Capital takes a long-term and flexible approach to investing by building relationships with business owners, management teams and entrepreneurs to align interests, evolve businesses and create lasting value with a sense of purpose and a sense of humor. To learn more about DNS Capital, please visit: www.dnscap.com.

Contacts

Elizabeth A. Hess
Head of Business Development
DNS Capital, LLC
312 982 0047
ehess@dnscap.com

Contacts

Elizabeth A. Hess
Head of Business Development
DNS Capital, LLC
312 982 0047
ehess@dnscap.com