BERLIN, Conn.—Midwest Industrial Rubber Inc. completed its acquisition of New England Belting Co., a provider of specialty belts, including edge belts, wave solder belts, timing belts and vacuum belts.
Details of the acquisition were not disclosed. New England Belting will continue to operate as Nebco, a division of MIR.
The acquisition improves MIR's presence in the northeast U.S., giving the company direct fabrication, installation and on-call services to customers in the region, according to a MIR release. The combined entity also will have a broader selection of products to offer customers.
The deal comes as part of MIR's larger growth strategy to find companies to acquire in geographies that are targeted for expansion, MIR CEO Mike Bruhn said.
The move also cements Nebco's position as the region's lightweight belting leader, according to Nebco Co-owner Gregg Beaty.
In 2016, MIR, a specialty fabricator and distributor of lightweight conveyor belts and industrial conveyor products, was acquired by Incline Equity Partners, a Pittsburgh-based private equity firm. Since then, MIR has made two acquisitions of its own, including Nebco. The other came in February when MIR completed a deal for Maple Grove, Minn.-based Conveyor Belting Supply.