Precision Pulley & Idler (PPI) has agreed to acquire Continental Global Material Handling, a portfolio company of Stellex Capital Management. United States-based Continental has been “a leader in bulk material handling for decades,” PPI said.
The transaction is expected to close in the coming days.
“Continental has earned its position as one of the most well-respected brands in the industry. We couldn’t be more excited to welcome the Continental management team and employees into our growing company,” said Matt Buckingham, president and CEO of PPI.
“We believe the two businesses are stronger together than apart. The combination of PPI and Continental’s complementary product lines will allow us to enhance our offerings to the customer, backed by our combined conveying expertise, quality products, and industry-leading customer service.”
Continental’s Co-Presidents Mark Rodgers and Rich Meacci added, “Similar to PPI, the Continental brand is well known in our industry and has a strong reputation of providing quality products, exceptional customer service, and conveying expertise. We believe the differentiated focus areas of CGMH and PPI will be a strong match and complementary to one another on a combined basis.”
PPI has over a million square feet of manufacturing space and 25 global facilities.
Source: PPI