"Over more than 20 years, MHS has built a reputation as a reliable and committed partner, while expanding our capabilities and building on our progressive, forward-thinking technical position. This allows us to deliver new products and solutions," says Scott McReynolds, CEO of MHS. "Joining forces with Fortna allows us to continue on this course together and accelerate it for the benefit of our customers, employees and suppliers."

Rob McKeel, CEO of Fortna, adds: "Fortna is a trusted advisor. We create competitive advantage for our clients by building direct-to-consumer strategies, increasing service levels and reducing costs. "Together with MHS, we will have new opportunities to scale this strategy with our customers globally and to drive further innovation in business models, software and automation."

Upon completion of the transaction, Rob McKeel will become CEO and McReynolds will become President of the combined company. Hamad Shahwan Al Dhaheri, Executive Director of ADIA's Private Equities division, said: "MHS and Fortna are both industry leaders. Their merger creates a significant entrepreneurial platform to provide automation solutions to customers on a global scale. This transaction is consistent with our approach of investing to strengthen technology leadership alongside proven partners."

Jim Carlisle, THL, Managing Director, Head of Technology & Business Solutions and Head of Automation Fund, summarizes: "We look forward to working with the ambitious management teams and employees of Fortna and MHS as we continue to drive performance in intralogistics automation. Automation is helping to address industry-wide challenges, such as reducing labor shortages and meeting increasing customer demand. Both companies are ideally positioned to meet these challenges and open up new opportunities for their customers."

Carlisle will be appointed Chief Executive Officer of the merged company. The transaction is subject to customary closing conditions and regulatory approvals. The terms of the transaction have not been disclosed.