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Novatec changes hands

May 18, 2006

1 Min Read
Novatec changes hands

In mid-May an investment group led by two key experienced plastics auxiliary equipment executives purchased Novatec Inc. (Baltimore, MD), a leading supplier of material handling systems from the private group of investors who had owned it. The new owners aim to double the size of the company in three years, according to Conrad Bessemer, president and CEO of the new Novatec. Novatec''s range of dryers includes desiccant, hot air, compressed air, infrared systems, and its patented NovaDrier compressed air / membrane dryer. Terms were not disclosed.

Bessemer led Conair North America and Conair-Americas until he resigned, after 19 years of employment there, in February 2006. Also in the management buyout team is Lawrence DeBaugh, who was president of Novatec and now is chairman of the new Novatec. Novatec''s executive vice president John Doub remains in that position. In a statement, Bessemer said more key people "with strong backgrounds in plastics and resin handling systems" will join the company even before this month''s NPE 2006 exposition.

Added Bessemer, "We intend to double the size of Novatec over a three-year period through innovative technology, broader product range, new marketing initiatives, and expansion into Europe and Asia from the company''s current market base in the Americas." The firm intends to focus development on energy efficiency, with Bessemer stating it will offer data on actual energy consumption for every dryer it sells.

At NPE (June 19-23; McCormick Place, Chicago) the firm will unveil a new branding strategy, new drying technology, and new gravimetric blending offerings. -Matt Defosse; [email protected]

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