Tavares, FL - February 18, 2005 - Elite Line Services, Inc. ("ELS"), a wholly owned subsidiary of G&T Conveyor Company, Inc., ("G&T") announced that it has acquired Ameribridge, Inc. ("Ameribridge"), a service provider to the passenger boarding bridge industry. Ameribridge is headquartered in Indianapolis, Indiana. The terms of the transaction were not disclosed.
"The products and services of Ameribridge are a natural fit with ELS and our growing capabilities", said Mike Conner, VP and General Manager of ELS "In our expanding base of more that 25 national sites, there is a growing need for the installation, maintenance, and refurbishment of passenger boarding bridges. This service, combined with ELS' core capabilities and the offerings of our parent company G&T, a world leader in baggage handling systems, reaffirms our position as the leader in maintenance services for baggage handling systems, passenger boarding bridges and ground support equipment."
"Although Ameribridge will continue to operate independently, by combining the industry leading capabilities of Ameribridge services in the passenger boarding bridge market with the resources, maintenance services, and nationwide fixed bases of operation of ELS/G&T, we feel that we can offer superior, full-service capabilities never before seen in the industry," said Gary Sloan, President of Ameribridge.
G&T is majority owned by Brynwood Partners L.P. ("Brynwood"), a private investment firm based in Greenwich, CT. Hendrik J. Hartong, Jr., Senior Managing Partner of Brynwood said, "We are excited to add this investment to the Brynwood family of companies. This investment is consistent with our strategy of building G&T into a significant competitor in the servicing of baggage conveyor systems, ground support equipment and boarding bridges."
About G&T Conveyor
G&T is the largest privately held baggage handling systems manufacturer in the United States. Through its Elite Line Services division, G&T provides operations and maintenance support for airport services including baggage handling systems, passenger loading bridges and ground support equipment. For more information on the company, please visit www.gtconveyor.com.
About Brynwood Partners
Founded in 1984, Brynwood is a private equity fund which invests in lower middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood have made investments in 17 portfolio companies and have successfully partnered with management and owners who want to continue to run their businesses but need the financial and operating partner support Brynwood uniquely provides. Brynwood is based in Greenwich, CT. For more information, please visit: www.brynwoodpartners.com.