Hy-Tek Material Handling and WorldSource Integration have been acquired jointly by Dunes Point Capital to form Hy-Tek Holdings, a materials handling automation integrator serving clients in diverse end markets and applications, including e-commerce, third-party logistics and parcel handling.
Hy-Tek offers a range of new and used equipment for sale or to rent
The acquisition was announced by Hy-Tek Holdings CEO Sam Grooms.
Columbus, Ohio-based Hy-Tek Material Handling is the premier single-source provider of materials handling solutions. WorldSource, headquartered in Nashville, Tennessee, is a materials handling automation integrator.
Under the Hy-Tek Holdings umbrella, Hy-Tek and WorldSource will offer expanded products and services to the materials handling industry.
Details of the financial terms of the transaction were not revealed.
Hy-Tek is not the first materials handling/logistics acquisition for Dunes Point, a private investment firm, pursuing control investments in companies operating in the general industrial and business services sectors.
In late 2019, Dunes Point bought into Vanguard Packaging, Advanced Logistics & Fulfillment, and Great Plains Packaging.