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Westbourne Capital Partners, in partnership with Samson Investment Partners has acquired Proos

GRAND RAPIDS, Mich. – Proos Manufacturing, Inc. announced today that Westbourne Capital Partners, a Chicago-based private investment firm, in partnership with Samson Investment Partners, a single family office located in New York and Dallas, and several other family offices have completed a strategic investment in Proos to support the Company’s rapid growth as it serves the high growth e-commerce fulfillment market.

Proos has a long history in the West Michigan marketplace, with its Grand Rapids roots dating back to 1919. Proos is a leading designer and manufacturer of highly engineered chute, shelf and workstation solutions for the material handling industry. The Company works closely with a wide variety of material handling integrators to deliver large-scale e-commerce fulfillment solutions for end-users such as Amazon, UPS and FedEx as well as other omni-channel players. The Company specializes in providing highly engineered solutions that meet stringent end-user specifications and minimize the time and labor required for installation. Headquartered in Grand Rapids, Michigan, Proos employs over 140 team members in Western Michigan.

With the support of a growth-oriented partner with a long-term perspective, Proos will focus on expanding its relationships with existing customers through incremental capabilities, additional investment in engineering talent, value-added features and geographic expansion. “We are excited to partner with Bryan Howard and the entire Proos team to grow and expand the business for the benefit of our current and future customers, employees and key stakeholders. We are particularly enthused about working with such a dynamic team in a rapidly growing and evolving industry and look forward to supporting Bryan and his team in their evolution to a full solution provider, with a particular emphasis on engineering and design. This is a continuation of our focus on being active partners in outstanding family owned businesses, who are seeking capital and knowledge to support growth” said Rob Crisp, Managing Partner of Westbourne Capital Partners.

The management team, including Proos’ CEO, Bryan Howard, will continue their leadership at Proos. “We are extremely excited to partner with the Samson Investment Partners and Westbourne Capital Partners teams. While Proos has been highly successful in establishing itself as a leader in the design and production of non-automated material handling solutions, we are eager to take the next step in growing the company through greater utilization of our know-how and industry relationships, as well as supporting our customer’s continued expansion in new geographic markets. Our partnership with Westbourne and Samson, provides us with the resources to continue our expansion in support of our integrator and end-market customers” said Bryan Howard.

Ice Miller LLP provided legal advice and services to Westbourne in connection with the transaction, while Varnum LLP advised the Company. Plante Moran served as a financial advisor to Westbourne, while Greenwich Capital Group advised the Company.

About Westbourne Capital Partners

Westbourne Capital Partners is a private investment firm that partners with family offices to deploy capital into direct investments in private companies. A successful track record consulting with, and investing in, family-owned enterprises makes Westbourne Capital Partners particularly well-suited to invest in family and founder owned businesses in the manufacturing and food sectors, particularly when ownership is concerned about the impact outside investors might have on the business and its stakeholders. Westbourne Capital Partners is focused on investing in businesses and building shareholder value over the long-term, rather than relying on financial engineering or excessive leverage. For more information, visit www.westbournecp.com.

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