HOUSTON, Sept 22, 2022 – Milton Street Capital, a Houston-based private equity firm, has formed ProVeyance Group (“Proveyance”) with its recent acquisition of two Ohio-based companies, Woodsage, LLC (“Woodsage”) and Ashland Conveyor Products (“Ashland”). ProVeyance is a leading manufacturer of advanced conveyance components and subsystems for package and material handling applications. The company also produces precision-fabricated tube products for niche applications.
Woodsage and Ashland, founded in 1975 and 1987, respectively, have built unmatched reputations in the industry for high-quality products, customer service, and innovation. ProVeyance’s combined engineering, design, and product development capabilities help customers solve complex challenges, improve employee health and safety, and increase throughput. In addition, ProVeyance’s North American manufacturing footprint enables its customers to source high-quality products locally, eliminating the uncertainty of today’s global supply chain while reducing lead times and inventory.
ProVeyance will continue to invest in organic growth opportunities and pursue strategic acquisitions which expand its capabilities and product offering to provide customers a full suite of conveyance components and solutions. ProVeyance is seeking partnerships with companies who are leaders in their product segments and markets and who share ProVeyance’s focus on employee culture and customer service.
About ProVeyance Group
ProVeyance is a leading North American manufacturer of advanced conveyance components and subsystems for package and material handling applications that goes to market through its Woodsage and Ashland brands. The Woodsage brand primarily manufactures specialty steel rollers and roller assemblies, including tapered, grooved, motor-driven, and sleeved. Woodsage also manufactures precision-fabricated tube products for niche applications. The Ashland brand manufactures and assembles conveyor systems, sub-systems, and related parts and accessories.
About Milton Street Capital
Milton Street is a Houston-based private equity firm focused on control investments in North American manufacturing, rental, distribution and service companies with EBITDA typically ranging from $5 million to $20 million. The firm seeks opportunities to create value and transform companies into sustainably great businesses through active engagement in strategy, human capital, and commercial and operational improvements. Milton Street has a long history of partnering with family-owned businesses and entrepreneurs to support growth.