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May River Capital forms material processing equipment platform company

Private equity firm May River Capital LLC formed a platform company focused on material processing equipment for multi-sector use.

Advanced Material Processing will allow the firm to advance engineering capabilities and provide other synergies with the aim of creating "short and long term value" and providing "better products and services" to customers, the firm said.

It concurrently closed the acquisition of Kason Corp., a New Jersey-based screening and processing equipment manufacturer, from Baird Capital. Financial terms of the deal were not disclosed.

Kason and existing portfolio company Marion Process Solutions Inc., which custom manufactures processing solutions with industrial mixers and blenders, among other things, will be part of Advanced Material Processing.

Winston & Strawn LLP offered legal advice to May River Capital in connection with the deal, while Abacus Finance Group LLC and Northstar Capital offered debt financing. Paul Hastings LLP offered legal advice to Kason and its shareholders, while Hennepin Partners LLC acted as financial adviser.

Chicago-based May River Capital targets investments in lower-middle-market industrial growth companies.