Franklin-based Krones Inc. has acquired 80 percent ownership of Tampa, Florida-based Trans-Market Sales & Equipment Inc. from the Santi family.
Krones Inc. is the U.S. subsidiary of Krones AG, a German manufacturer of packaging and bottling line systems, brew house and processing systems, IT solutions and warehouse logistics systems. Krones has 550 employees in Franklin, a spokesperson said. It also has field offices nationwide.
Milwaukee-based mergers and acquisitions advisory firm Bridgewood Advisors Inc. advised Krones in the transaction.
Trans-Market designs and manufactures sanitary process systems for the food and beverage and pharmaceutical industries, and is particularly known for its process engineering and automation solutions for the liquid food industry. It has additional offices in Dallas and San Antonio, Texas. Trans-Market has annual revenues of about $30 million and 55 employees. They will all be retained in the integration, the spokesperson said.
The Santi family will retain 20 percent ownership of Trans-Market and continue to be involved in its management and operations. Its headquarters and management will remain in Tampa.
The acquisition of Trans-Market will allow Krones to expand its process technology offerings in the U.S. and increase its North American presence. The company will be integrated into Krones’ machines and lines for beverage production/process technology division.
“We are excited to add the skilled employees, depth of experience and resources of Trans-Market to the Krones family,” said Holger Beckmann, president and chief executive officer of Krones Inc.
“Partnering with Krones was a unique opportunity to continue to build the business my father founded 47 years ago,” said Keith Santi, CEO of Trans-Market. “Most importantly, we‘re looking forward to bringing new capabilities to our customers and new opportunities to our employees.”