Motion Industries, a distributor of maintenance, repair, and operation replacement parts and a premier provider of industrial technology solutions, signed a definitive purchase agreement to acquire the operating assets of International Conveyor and Rubber (ICR), a U.S.-based company. Subject to customary closing conditions, the transaction is expected to close at the end of December 2024.
ICR serves commercial and industrial customers in the eastern United States. The company, which has seven locations and is headquartered in Blairsville, Pennsylvania, sells, installs, repairs, and maintains conveyor belts and related system products. It also provides engineering and design services for custom solutions.
ICR serves various 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. We look forward to enhancing our services and customer value proposition while contributing to Motion’s growth,” said Kory Krinock, one of ICR’s owner-operators.
“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.”
With 150 employees, ICR will join Motion’s business unit, Motion Conveyance Solutions.
You may also like:
Filed Under: USE ⌘F to FIND CORRECT CATEGORY :), NEWS • PROFILES • EDITORIALS, MOTION CONTROL
