Conveyor manufacturer Precision Pulley Inc. late last month absorbed its fourth rival in four years with its acquisition of the Chantland Companies.
TheDes Moines Registerreports the Pella, Iowa-based company closed on the purchase of Chantland, located about 150 miles away in Humboldt, Iowa, on August 30. Precision officials said the deal would add airport and warehouse conveyors to its operations, which currently focuses on logistics companies.
The company’s chief executive told the paper he was interested in acquiring Chantland for years but was turned away until an offer over the summer. Terms of the deal were not disclosed.
Precision President and CEO Roger Brown said the purchase “gets us into those markets immediately with probably the most noted manufacturer in those industries.”
The company indicated its overall workforce now totals 1,200 people across 16 sites. Precision will retain Chantland’s operations — and 130 employees — in Humboldt, along with another facility in nearby Dakota City.
Since 2015, the company has acquired conveyor firms in Canada and Chile, along with a company in Texas that was spun off into a new company aimed at the food sector.
