SOUTHBRIDGE, Mass.—Citing the potential for 15 to 20 percent annual growth, Hyde Industrial Blade Solutions kicked off its acquisition mode efforts recently by acquiring two small manufacturing firms in Massachusetts that will enhance its capabilities in the rubber recycling industry.
Hyde IBS purchased both D&S Manufacturing and PDK Design & Grinding in Auburn, Mass., which reside nearly 15 miles from its Southbridge, Mass., location. Both companies had been owned for decades by Norm Monks, who recently retired.
Terms of the purchase were not disclosed but all 20 employees from the two acquired firms will join the Hyde IBS team, which is a division of Hyde Tools, Inc., said Eric Pfeiffer, Hyde IBS director of sales and marketing.
The acquisitions will bolster Hyde's offerings in the general rubber and plastics industries, but more specifically expands Hyde's specialization in the manufacturing of high-chrome alloy tool steel granulator and shredder and recycling knives. These products are used to break down plastic and rubber materials, he said.
“It was a great fit because their range of shredder knives and recycling blades were not a part of our capabilities and processes, and our industrial blades and knives were not a part of their offerings or expertise,” Pfeiffer said. “There was virtually no overlap in terms of capabilities, yet we can sell the same products to the same group of customers.”
Those customers include rubber recycling firms, tire manufacturers, rubber extruders, automotive parts manufacturers and virtually any company that makes extruded, formed or molded rubber parts, he said.
“We're strong with new tire manufacturer and conveyor belt capabilities, but it's in the recycling end that (the acquired companies) have a strong brand,” Pfeiffer said of the acquisition.
Hyde Group President Rob Scoble said in a statement that all customers in this space will have access to Hyde's “engineering, research and development capabilities, sales force and our already extensive line of blades and knives for these markets.”
That brand strength makes it likely that Hyde IBS will retain the D&S and PDK brand names for the present and is likely to operate the two entities as separate divisions under Hyde's corporate umbrella, possibly as “sub-brands.”