Nashville, Tenn., October 20, 2016 – Gen Cap America, Inc., a private equity firm focused on lower middle market buyouts in the Southeast, announced today that it has sold Magnum Systems, Inc. to Austin-based private equity firm Blue Sage Capital. Gen Cap acquired Magnum in 2012.
Magnum Systems is a Kansas-based designer and manufacturer of pneumatic conveying systems and packaging systems used for powder and bulk solids and sold under the Smoot and Taylor Products brands. Customers utilize the Smoot and Taylor Products systems to process grain, seeds, cereals, sugar, flour, plastic pellets, plastic powder, sand, cement, fly ash, fertilizers, granulate chemicals, and other bulk solids. Magnum has established a solid position within the marketplace following a long and successful history; the two companies that merged in 2000 to form Magnum were founded in 1960 and 1969.
Gen Cap America Managing Director Chris Godwin commented, “Our partnership with Magnum Systems was a success. Gary Saunders and his team did an excellent job executing on the growth initiatives we set out while simultaneously streamlining operations, which allowed us to exit the investment in four years.”
Gary Saunders, Magnum’s CEO under Gen Cap’s ownership, said, “Since partnering with Gen Cap in 2012, we have continued our growth by providing a comprehensive range of solutions to both new and existing customers. The team at Gen Cap allowed us the flexibility to execute while providing support at every step of our path.”
About Gen Cap America
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established lower middle market businesses. For more information, visit www.gencapamerica.com.