WASHINGTON—JGB Enterprises, backed by HCI Equity Partners, has expanded into Canada with the acquisition of hose distributor Industrial, Petroleum and Mining Supplies Ltd.
The transaction closed on June 10. Terms were not disclosed
Headquartered outside of Toronto, IPM is a distributor of hydraulic, industrial and propane hose, fittings and accessories. The company has six locations across Canada and serves more than 3,000 customers across a variety of end markets including forestry, mining, construction, agricultural and diversified industrials.
"IPM is a market-leading distribution platform in an industry where JGB has extensive experience and success, and we believe it represents a compelling opportunity to drive operating improvements and geographic expansion," JGB President Kevin Kilkelly said in a news release.
JGB is a supply chain management and logistics services distributor of industrial hose, fluid power products and hose assembly solutions. The company serves a diverse set of end markets including the U.S. Department of Defense, oil and gas, food and beverage, retail, construction and industrial OEMs.