Material Handling Services, LLC has announced that funds managed by Harvest Partners, LP, a New York-based private equity firm, have acquired the equity stake in Material Handling Services held by CI Capital Partners, another New York-based private equity firm. CI Capital acquired its equity stake in Material Handling Services (trading as Total Fleet Solutions) in 2012. Terms of the transaction were not disclosed.

Material Handling Services' comprehensive, brand-independent solutions include procurement, installation, maintenance and disposal of equipment such as forklifts, docks and doors across a diverse client base, spanning manufacturing, distribution, retail and other end markets.

The company's management team, including founder and CEO Brent Parent, will continue to lead the company.

Timothy Hall, managing director at CI Capital Partners, the management team "did an excellent job of executing an organic growth and M&A strategy that enhanced the company's value proposition and expanded its service offering".

"We are proud of the partnership we have had with founder and CEO Brent Parent and the rest of the management team, and we wish them continued success."

Parent, meanwhile, is grateful for CI Capital's support "during an exciting and transformational period of time for our company".

Based in Perrysburg, Ohio, Material Handling Services primarily delivers its services via two business units: Miner and Total Fleet Solutions. Miner provides outsourced facility services including equipment installation, repairs and asset management solutions to reduce customer costs and improve uptime. Total Fleet Solutions is a brand-independent provider of turnkey fleet management services for Fortune 1000 companies and large manufacturing and distribution companies throughout North America.