Deal Details

Fortna Is Acquired by MHS

Industrial

Fortna acquisition by MHS, both portfolio companies of THL, and investment by ADIA

Summary

Fortna will be acquired by MHS Global (“MHS”) to form a multi-billion dollar, multinational company serving the parcel, warehouse and distribution and lifecycle services markets. Fortna and MHS belong to the investment portfolio of Thomas H. Lee Partners, L.P. (“THL”). THL will remain the majority owner of the combined company and a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") will acquire a significant minority stake to support the combination. The transaction is subject to various regulatory approvals and customary closing conditions.

Baird served as the exclusive financial advisor to Fortna on this transaction.

About

Headquartered in Atlanta, Georgia, Fortna partners with the world’s leading brands to transform their distribution operations to keep pace with digital disruption and growth objectives. Known world-wide as The Distribution Experts™, Fortna designs and delivers intelligent solutions, powered by FortnaWES™ software, to optimize fast, accurate and cost-effective order fulfillment. Fortna’s people, innovative approach and proprietary algorithms and tools ensure optimal operations design and material and information flow.

Headquartered in Louisville, Kentucky, with ~3,000 employees globally, MHS is a leading global provider of automated material handling systems, solutions, software and products to leading customers’ fulfillment, distribution and logistics operations. More specifically, MHS provides project engineering, systems integration, conveyor, sortation robotics, and a range of other products and software solutions. MHS has a global installed base of over $6.5 billion for small to large distribution and fulfillment projects in a variety of industries, including eCommerce, parcel, third party logistics and outside integrators.

Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle-market growth companies exclusively in three sectors: Healthcare, Financial Technology & Services, and Technology & Business Solutions. THL couples deep sector expertise through our Identified Sector Opportunity (“ISO”) process with dedicated internal operating resources from its Strategic Resource Group (“SRG”) to transform and build great companies of lasting value in partnership with management. Since 1974, THL has raised more than $30 billion of equity capital, invested in 160 companies and completed more than 500 add-on acquisitions representing an aggregate enterprise value at acquisition of over $210 billion.

Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.

Industrial

Fortna acquisition by MHS, both portfolio companies of THL, and investment by ADIA