Bed Bath & Beyond, Walgreens and PetSmart are among the retailers selling through Google’s voice-activated devices.
The deal with Europe-based Permira is worth $500 million.
Intelligrated, which sells automated material handling equipment for retailers’ distribution centers, has announced that it will be acquired by Permira, a Europe-based private equity firm, in a deal worth $500 million.
Intelligrated designs, builds and installs equipment that enables the storage and distribution of retail goods; its areas of focus include order fulfillment and warehouse control software. Intelligrated says the deal enables founders Chris Cole and Jim McCarthy to retain a “significant stake” in the company, and to continue to lead its operations.
The Permira deal will enable Intelligrated to grow in its existing markets and expand into new ones, and to increase its product line. "Intelligrated is well-positioned to capitalize on the growing demands on companies to increase supply chain efficiency and better serve the evolving needs of their customers," says Richard Carey, partner and co-head of the Global Industrials Group at Permira.
The companies say they expect to close the deal in the third quarter. Morgan Stanley & Co. acted as lead financial advisor to the Permira funds and RBC Capital Markets acted as co-advisor.