Sydney deal-by-deal growth capital firm Attalis Capital has led the acquisition of conveyor equipment company Kinder Australia.
The $250 million state government financed Victorian Business Growth Fund, which is managed by the Melbourne office of Roc Capital Partners, has taken a majority stake in formerly family-owned Kinder. Attalis has taken a minority stake and Kinder senior management are believed to have also invested in the succession deal.
No value for the deal has been disclosed but Attalis seeks to invest $20 million to $50 million in deals.
Kinder provides rollers and other conveyor-belt components to companies in the industrial, mining and agriculture sectors and also designs and maintains conveyor systems.
Customers include BHP, Mineral Resources, Pilbara Metals, Adbri Cement, Holcim, Visy, Hanson, BlueScope, Viterra, Mackay Sugar and GrainCorp.
Founded in 1985 by Neil and Christine Kinder, Kinder is based in Braeside, Victoria.
Attalis Capital is led by John Shin who formerly worked as chief investment officer for RF Capital (the family office of Andrew Roberts) and more recently with Lowy Family Group (LFG) the family office of Westfield founder Frank Lowy. Shin continues to work with Steven Lowy managing LFG’s Australian real estate and US growth tech investments.
Shin founded Attalis in 2013. In 2018, a consortium led by Attalis acquired optical fibre to the home provider LBNCo. Other members of the consortium were Roc Partners, First State Super (now Aware Super) family offices, high-net-worth individual investors and members of LBNCo’s management team.
LBNCo was acquired by Uniti Group (ASX: UWL) owned OptiComm for $100 million in 2021.
Image: Kinder carries out engineering work on customers’ conveyor systems.