PRC INDUSTRIAL SUPPLY ACQUIRES ACE CONVEYOR SERVICES
Portland, ME: PRC Industrial Supply, headquartered in Portland ME, today announced a deal with ACE Conveyor Services of Belgrade, ME to acquire all of its assets and hire its entire staff effective immediately. The move comes after negotiations between the two companies over the past few months. Vice President and GM of PRC, Kevin Easler, says it was mutual respect that made this deal possible. “As customers across New England are increasingly coming to PRC for their conveyor belt requirements, we realized we needed more help,” he said. “Tom and his crew are hard working and well respected throughout New England. Tom and I both realized by joining forces we could achieve our shared mission for continued long term growth as well as provide long term growth opportunities for our co-workers. ”
Hudson, President and founder of ACE Conveyor Services, was equally pleased with the outcome of the negotiations. “I built my company over the past 20 years from the ground up, and trained many vulcanizing technicians over the years,” he said. “We’ve stayed small, and that has made us nimble and very efficient at what we do, but it has come at the cost of growing to a sustainable level.” As part of the deal, Hudson, who has over 35 years in the industrial rubber business, will help facilitate PRC’s long term growth strategy as well as become a sales and service rep. for PRC. Tom will be reaching out to all of his customers in the coming days to answer any questions they may have.
PRC Industrial Supply, established in 1895 formerly known as Portland Rubber Company, is a sales and service company, specializing in conveyor belt, industrial hose and fluid power components. With 3 locations and 28 employees, the company offers a full range of services including on-site conveyor belt installations, Industrial Hose as well as in-house repairs of hydraulic pumps, motors, valves, and cylinders. PRC Industrial Supply has locations in Portland and Bangor, ME., and Burlington, MA. (dba Stewart Hunt).
PRC Industrial Supply is a wholly owned subsidiary of Singer Industrial and Singer Industrial, headquartered in Houston, TX and through its 58 locations provides industrial rubber and wire rope and rigging products and services to a broad range of industrial end markets throughout the United States and Canada.
More information can be obtained at www.prcindustrial.com , www.sbpholdings.com , and www.singerequities.com