Precision Pulley & Idler (PPI) has agreed to acquire Continental Global Material Handling (CGMH), a portfolio company of Stellex Capital Management. Continental, based in Winfield, Ala., has been “a leader in bulk material handling for decades,” PPI stated. 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 commented, “Joining PPI is truly exciting for Continental, with each company having incredible management teams and employees. The opportunities in front of us are tremendous as we leverage the synergies of these two great companies and build on their already great reputations.”
“Similar to PPI, the Continental brand is well known in the industry and has a strong reputation of providing quality products, exceptional customer service and conveying expertise,” PPI stated. “We believe the differentiated focus areas of CGMH and PPI will be a strong match and complementary to one another on a combined basis.”
With more than 1 million sq. ft. of manufacturing space and 25 global facilities, PPI’s promise is simple: provide quality products at a competitive price with unbeatable customer service. It’s been a promise kept for more than four decades in a diverse group of industries including aggregate, mining, forestry, grain, unit handling and food processing. PPI is the industrial division of Precision Inc. For more information visit www.ppi-global.com.