The Interroll Group, a Swiss-based global maker of material handling equipment, said today it has acquired Portec Group International Inc., a Canon, City, Colo.-based domestic manufacturer of conveyor belt curves. Specific terms of the all-cash transaction were not disclosed.
The transaction is expected to close on July 1, Interroll said in a statement.
Portec, which has been making conveyor belt curve equipment since 1957, will benefit from integrating into Interroll's global distribution network, Interroll said. At the same time, Portec's U.S. reach will enable Interroll to expand its markets for its own products and services, Interroll said.
Besides producing belt curve systems, Portec is active in the replacement aftermarket as a supplier of belts mostly used in systems operated by third-party logistics providers.
Portec generated about $20 million in revenue last year. It is owned by Incline Equity Partners, a Pittsburgh-based investment firm.