PITTSBURGH (March 5, 2012)—Leis-Goetz and Co. Inc. has purchased the assets of Industrial Rubber & Supply of Savannah, Ga., a distributor of fabricated rubber products and related services.
The deal was closed Feb. 29. Terms were not disclosed.
Jeff Crane, Lewis-Goetz president and CEO, said the purchase is an important part of his firm's strategic growth plans. “The southeastern U.S. is an area where we have focused acquisition-related resources for years,” he said. “IR&S will help expand our presence and create density in an important geographic market. It helps solidify our position in the pulp and paper markets, which remains a focus of our national account activities.”
Lewis-Goetz is part of the Netherlands-based Eriks N.V. group of companies. Eriks Chairman Johan Sleebus said the firm's executive board fully supports the acquisition plans of Lewis-Goetz as Eriks is committed to expand its presence in North America. The group currently has North American sales of more than $700 million.