BIRMINGHAM, Ala.—Motion Industries Inc. has acquired Apache Inc. in a deal that is part of Motion's continuing effort to build its belt business.
The deal was closed Nov. 1 and terms were not disclosed.
Moving forward, Apache will go to business as Apache, a division of Motion Industries, according to Tony Cefalu, senior vice president of Motion Industries.
"The Apache name is a recognized brand," he said. "We certainly wouldn't do away with that right now, and I don't know that we ever will."
Apache's employees—including President and CEO Tom Pientok, among others—will stay with the purchase, bringing their experience along as part of the agreement.
"What we're really buying, what we really need are the people. If Tom and his group had said, 'We just want to go,' we wouldn't really have been interested," Cefalu said. "We can buy inventory and buildings. We can buy equipment. But we need the expertise they bring along with it."
There are currently no plans for consolidations, and Motion is looking to utilize Apache facilities for Motion customers, he said. Apache has seven sales and production locations in the U.S.
"At the same time, we're still committed to their model of selling through distribution for those who want to continue to deal with Apache," Cefalu said.