TerraSource Global – a manufacturer of high-quality material sizing equipment based on the Gundlach, Jeffrey Rader and Pennsylvania Crusher brands, and subsidiary of Right Lane Industries – announced the acquisition of Elgin Separation Solutions (Elgin) as of January 12.
What does Elgin bring TerraSource Global’s portfolio?
Elgin designs, manufactures and services material processing equipment for mining, energy production, recycling and waste management. Core products include vibratory centrifuges (CMI™), decanter centrifuges, mobile packaged treatment systems (KEMTRON™), vibrating screens (Hyper-G™, Tabor™ and Norris™ brands) and cuttings dryers (CSI™).
Kevin Hambrice, CEO at TerraSource Global, said, “Elgin is a leading manufacturer of innovative turn-key solutions in a variety of applications, from material handling to natural resource recycling to dewatering and liquid/solid separation. These products complement TerraSource Global’s industrial processing equipment, which serves many of our key markets in minings and metals and expands our portfolio in the food, water and oil and gas sectors.”
“We look forward to working with Michael Rai Anderson and his management team as we integrate our offerings into more complete solutions for customers and as we expand into new product applications, industry verticals and strategic acquisitions,” Kevin Hambrice said.
What does the transaction mean for Elgin?
Michael Rai Anderson, President of Elgin, said, “We are excited to become part of TerraSource Global and partner with their team to serve customers in all corners of the world.”
“Combined, our innovative product designs, extensive application expertise, and commitment to timely and professional service, position us as the leading trusted technical resource for mining, recycling, industrial waste management and energy production solutions.”
Livingstone Partners LLC provided sellside M&A financial advisory services and Kirkland & Ellis LLP provided legal counsel to Elgin throughout the process. Taft Stettinius & Hollister LLP provided legal advisory transaction services to TerraSource Global.