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Milton Street Capital Acquires Ohio, US Manufacturers Woodsage and Ashland Conveyor Products
Friday 23 September 2022

Houston, US-based private equity firm Milton Street Capital has formed ProVeyance Group with its recent acquisition of two Ohio, US-based companies, Woodsage, LLC and Ashland Conveyor Products, the firm said.

ProVeyance is a manufacturer of advanced conveyance components and subsystems for package and material handling applications.

The company also produces precision-fabricated tube products for niche applications.

Woodsage and Ashland were founded in 1975 and 1987, respectively.

ProVeyance's combined engineering, design, and product development capabilities help customers solve complex challenges, improve employee health and safety, and increase throughput.

Concurrent with the formation of ProVeyance, Milton Street Capital has announced that Tim Carpenter has joined the new company as CEO. He will also join the board of directors.

Tim has an extensive background in global manufacturing, strategic growth, and industrial technology products.

Most recently, Tim was CEO of CST Industries and previously served as COO of Dayco and managed divisions of SKF and Rexnord.

ProVeyance is a North American manufacturer of advanced conveyance components and subsystems for package and material handling applications that goes to market through its Woodsage and Ashland brands.

The Woodsage brand primarily manufactures specialty steel rollers and roller assemblies, including tapered, grooved, motor-driven, and sleeved. Woodsage also manufactures precision-fabricated tube products for niche applications.

The Ashland brand manufactures and assembles conveyor systems, sub-systems, and related parts and accessories.

Milton Street is a Houston-based private equity firm focused on control investments in North American manufacturing, rental, distribution and service companies with EBITDA typically ranging from USD 5m to USD 20m.
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Date Published: 23/09/2022

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