Headquartered in Boyne City, Michigan, IMI provides highly engineered solutions for magnetic separation and material handling, particle processing and process automation applications. The company’s products are used to handle, separate, lift and process a range of materials across a range of markets. Applications include metal removal, ingredient/particle sorting and sizing, and product purity/quality control. IMI serves a number of industries, including food processing, industrial MRO, conveying, bulk material and aggregate handling and recycling.
“In the IMI team, we found true partners who we can be aligned with on a long-term basis,” said Michael Pucker, president and CEO of DNS Capital. “Bud Shear and his team are first-class operators and we look forward to working with them to build upon the company’s long and distinguished history.”
“My team and I are excited to have found a partner who understands the importance of preserving IMI’s unique culture and approach to serving its customers and employees,” said IMI CEO Bud Shear.
River Associates acquired IMI in 2012.
Baird and Miller & Martin acted as financial advisor and legal counsel, respectively, for River Associates Investments LLC and IMI. DNS Capital and Latham & Watkins LLP acted as financial advisor and legal counsel for DNS Capital.