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Fortna acquired by private equity firm

PHOTO COURTESY OF UNSPLASH – ELEVATE

Fortna, a supply chain automation design and implementation company, announced today that it entered into a recapitalization agreement with private equity firm Thomas H. Lee Partners, L.P (or THL). Terms of the transaction were not disclosed and the deal remains subject to closing conditions.

Fortna provides an array of supply chain solutions including distribution strategy, operations design and implementation, material handling automation and warehouse execution software systems. Fortna works with more than 200 clients in North America, Europe, Latin America and South Africa to improve their distribution operations by lowering costs, increasing throughput and improving service.

“We are excited to partner with THL, whose operating resources, extensive automation expertise and relationships will accelerate our next chapter of growth,” said John A. White III, President and CEO of Fortna. “This investment will create new opportunities for our associates and clients alike as Fortna provides solutions that deliver exceptional flexibility, agility and responsiveness to enable high-volume distribution centers. We look forward to working with THL as we continue executing on our mission to be the world leader in partnering with our clients to optimize their complex distribution operations.”

Fortna cited future e-commerce growth and increased demand for advanced warehouse automation infrastructure as reasons for seeking a strategic partner to invest in its growth plans which include potential mergers and acquisitions activities as well as geographic expansion. Today’s move follows recent upgrades and rollouts of its warehouse execution software platform, FortnaWES and its strategic partnership announced in 2017 with Llamasoft’s supply chain optimization platform.

“We are thrilled about the opportunity to work with the talented Fortna team,” said Jim Carlisle, Managing Director at THL. “Fortna has earned an impressive reputation as a leading provider of automation solutions to the warehouse and distribution end-market, which is driven by its continued focus on technology innovation, leading engineering talent and reliable, on-time delivery of advanced automation equipment and software to its clients. We are excited to invest in this outstanding organization and look forward to supporting Fortna’s continued growth.”

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.

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