NORTHBROOK, IL — Big Shoulders Capital and Iroquois Industrial Group have formed a partnership to acquire the assets of Benda Manufacturing, a leader in conveyor and product handling systems for the food industry and other industries requiring integrated production line conveyors. The acquisition of the assets of the 30-year-old Tinley Park, Illinois-based manufacturer closed on February 15, 2022 and a new company, Benda Conveyor Solutions, LLC, has been formed resulting in the creation of new jobs as operations are restructured.
According to Big Shoulders Capital Vice President of Equity Investments Brian Schroeder, "We completed an evaluation of the business and determined the company has a competitive core product line supported by a strong customer base in a growing industry segment and saw an opportunity to make significant operating changes that will allow the company to thrive in the future." Benda, despite an infusion of cash from the American Rescue Plan and the Paycheck Protection Program, was preparing to liquidate the business before Big Shoulders and Iroquois stepped in with additional capital and a reorganization plan to create an ongoing profitable business.
PPL Group in Northbrook was brought in to liquidate Benda when it asked Big Shoulders to evaluate the business as a going concern. PPL and Big Shoulders share common ownership and Big Shoulders has partnered with Iroquois Industrial in the acquisition and turnaround of several other manufacturing companies, including Savannah Industrial Solutions in Savannah, TN.
Benda has built a reputation within the baking and food industries as an innovative and reliable manufacturer of conveyor and product handling systems. The new owners are evaluating opportunities to expand into other markets while also leveraging synergies among the portfolio of other companies they own.
Benda Conveyor Solutions, LLC is located at 18504 West Creek Drive, Tinley Park, IL 60477. The company is a global leader in conveyor and product handling and processing systems, providing engineered solutions that include conveyors, robotics, control systems and more. The new company website is at www.BendaConveyorSolutions.com
Iroquois Industrial Group is a holding company operating nine companies in the metal fabrication, steel processing, trucking, healthcare and automotive industries. More information is available at one of the company websites, www.iroquoisindustrialgroup.com
Big Shoulders Capital is committed to being the most trusted acquirer of and lender to manufacturing companies in distress or special situations. More information is available at the company website, www.bigshoulderscap.com