Permira announced that a holding company owned by the Permira funds has entered into an agreement to acquire Intelligrated, a provider of automated material handling solutions, services and products, in a transaction at a valuation in excess of $500 million.

Intelligrated’s management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company as part of the transaction and will continue to lead the company.

Intelligrated designs, manufactures and installs complete material handling automation solutions for the warehousing, distribution, consumer product manufacturing, postal and parcel markets. Intelligrated will remain headquartered in Mason, OH, a suburb of Cincinnati, and has operations throughout the U.S., Canada, Mexico and Brazil.

“Intelligrated is well-positioned to capitalize on the growing demands on companies to increase supply chain efficiency and better serve the evolving needs of their customers,” said Richard Carey, partner and co-head of the Global Industrials Group at Permira.