BIRMINGHAM, Ala.—Motion Industries Inc., an $8 billion distributor of aftermarket power transmission and maintenance repair components, has entered into an agreement to purchase International Conveyor and Rubber.
ICR, of Blairsville, Pa., offers the sale, installation and repair and maintenance of conveyor belts and related system products. They also offer custom engineering and design services.
The transaction is expected to close at the end of this year, according to Motion.
"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."
ICR operates in the 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 terminal spaces.
The company primarily serves customers in the eastern U.S.
"It's a perfect match—both companies are dedicated to their customers and share the same core values," said Kory Krinock, one of ICR's owner-operators. "We look forward to enhancing our services and customer value proposition while contributing to Motion's growth."
ICR has about 150 employees, all of which will be under the auspices of Motion Conveyance Solutions when the acquisition is complete.
Motion Conveyance Solutions works in conveyor belting, hose, rubber parts and field services.
