Motion Industries to Acquire International Conveyor and Rubber
Motion Industries has signed a definitive purchase agreement to acquire the operating assets of U.S.-based International Conveyor and Rubber. The transaction is expected to close at the end of this month, subject to customary closing conditions.
ICR services commercial and industrial customers in the eastern United States. Headquartered in Blairsville, Pa., the company has seven locations, offering sales, installation, repair and maintenance of conveyor belts and related system products. ICR also provides engineering and design services for custom solutions. ICR serves a variety of industries including mining and aggregates, power generation, oil and gas, construction, steel, building materials manufacturing, package handling and distribution, wood/pulp/paper, cement and asphalt, recycling and marine terminals.
“It’s a perfect match – both companies are dedicated to their customers and share the same core values,” said Kory Krinock, one of ICR’s owner-operators. “We look forward to enhancing our services and customer value proposition while contributing to Motion’s growth.”
“ICR is highly complementary to Motion, adding seven strategic locations that expand our reach,” said James Howe, president of Motion. “ICR introduces new customers and end markets, allowing us to broaden our offerings. We are thrilled to welcome the highly talented ICR employees to the Motion team, including Kory and the other owner-operators, who will continue to play an integral role in the business.”
ICR’s 150 employees will join Motion’s business unit Motion Conveyance Solutions.
Motion Industries last month acquired the operating assets of Stoney Creek Hydraulics, based in Stoney Creek, Ontario, Canada.
Motion is an industrial distributor of more than 19 million parts and supplies, including bearings, mechanical power transmission products, electrical and industrial automation components, hose, belting, and gaskets, hydraulic and pneumatic components, process pumps, industrial and safety products, seals and accessories, and material handling products.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.