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A full‐service distributor and fabricator of conveyor system components including conveyor belts, equipment, accessories and rubber, hose and gasket products serving the conveyor maintenance, replacement and overhaul needs of over 3,000 customers

Headquarters:
Marietta, GA

Primary Sector:
Value-Added Distribution

End Markets Served:
Food & Beverage
General Industrials
Material Handling
Paper/Corrugated
Tire and Rubber 

Add-Ons:
5 Closed

Website:
BeltPower.com  

Investment Dates:
January 2015 – August 2022

Primary Contact:
Rob Hogan

Building businesses others want to own

Investment Overview: Belt Power was formed in 1989 to distribute drum motors for conveying systems serving the food and beverage industry.  In 2015 Shorehill partnered with management with plans to create the largest independent value-added distributor servicing the high-service needs of food processors, distributors, material handling providers, and general manufacturing companies. Over the next eight years the Shorehill and Belt Power teams built out a highly accomplished management team, expanded the served footprint by adding nine new locations through both acquisitions and add-ons, and installed or upgraded an array of performance metrics and operating systems.  The company was sold to a private-equity firm in mid-2022 and Shorehill retains a minority stake in Belt Power.
HUMAN CAPITAL
  • Implemented new organizational structure as company grew, filling key roles:  CFO, CCO, HR Director, Director of National Accounts, Controller, etc.
  • Recruited world class CEO who had previously run a +$1.0 billion division of Wesco
PERFORMANCE IMPROVEMENT
  • Implemented detailed performance reporting and KPI’s
  • Installed employee safety program and employee engagement surveys
  • Installed CRM and professional sales approach
  • Consolidated vendor base to drive purchasing savings
  • Standardized branch operating procedures
  • Improved productivity through lean initiatives
STRATEGIC GROWTH
  • Added nine branch locations in new geographies – four added via greenfield / five added through add-ons
  • Grew sales force from 9 salespeople to 46 through a systematic process to find, train, and retain sales talent
CAPITAL MARKETS
  • Took a conservative approach to leverage to support business strategies
  • Increased company size and scope to maximize exit valuation multiple

Completed Add-Ons

Has Acquired

August 2016

Has Acquired

March 2018

Has Acquired

Rubber Service

December 2020

Has Acquired

Engineered Components

July 2021

Has Acquired

December 2021

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Case studies are provided solely for illustrative and discussion purposes and there are no guarantees regarding the future performance of the companies presented. The case study discussed herein represents one investment made by Shorehill Capital LLC (“Shorehill”) and the Shorehill investment team and does not represent a complete list of the Shorehill investment team’s performance. The case studies presented were selected for inclusion on the basis of being representative of Shorehill’s investment strategy. There is no guarantee that Shorehill will be able to effect similar changes or improvements in the business and operations of any future investments. The investment performance that occurred was done so during different economic cycles and included opportunities, resources and experiences different than those that may be available to Shorehill in the future. Shorehill will deploy a different asset management approach for each portfolio company and the approaches described herein may or may not be used in the future. No assurances are given that any specific asset management approach will be used by Shorehill in the future or will achieve any particular result. Please see Shorehill Portfolio for a complete list of investments managed by the Shorehill Team.