Motion Industries Acquires Belting and Hose Maker ApacheMotion Industries Acquires Belting and Hose Maker Apache
October 23, 2017
Maintenance, repair, and operation replacement parts distributor Motion Industries Inc. is acquiring Cedar Rapids, IA-based manufacturer of industrial hose and belting solutions Apache Hose & Belting Company Inc., the company announced in an Oct. 19 press release.
“Apache is a pemier distributor serving both the industrial and agricultural markets and combined with Motion, creates a market leading value-added offering in the belting and hose business,” said a statement by Motion’s chief executive officer and president, Paul Donahue. “We are excited to welcome the Apache team to the Motion Industries and GPC family, and we look forward to working with them to grow our business into the future.”
Operating seven locations in the United States, Apache is anticipated to create $100 in revenue for Motion following the purchase. The Iowa company provides conveyor belting and services, sidewall belting, hose products and accessories, and cut and molded products to industrial customers across a variety of industries including food processing and mining.
The company’s press release did not detail the transaction price. Motion said it expects the sale to close by Nov. 1.
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