ORANGE PARK, Fla.—Bridgestone HosePower, a wholly owned indirect subsidiary of Bridgestone Corp., has purchased Industrial Rubber Co., a hydraulic and industrial hose sales and service company based in Elizabeth, N.J.
Financial terms of the agreement were not released, but Orange Park-based Bridgestone HosePower said in a news release that Industrial Rubber's 17 current employees—including General Manager Dennis Szafran—will be offered positions with HosePower.
Industrial Rubber was founded in 1950 as a distributor of hydraulic and industrial hoses, fittings, gaskets, accessories and safety supplies. It serves a broad range of customers, including OEMs, redistribution and over-the-counter service customers. It has a strong presence in the marine and chemical processing business.
It opened a second location in Bridgewater, N.J., in 1999, and that location is included in the purchase, according to Bridgestone.
"Industrial Rubber has an extensive customer base in northern New Jersey," J. Palmer Clarkson, HosePower president and CEO, said in a statement. "This acquisition broadens our presence in the Northeast, further enhancing Bridgestone HosePower's leadership in the market, increasing our product offerings and expanding our portfolio of value-added services."
Szafran said that adding HosePower's "expertise and extensive product offerings allows us to further our ability to service our customers, and we are enthusiastic about the increased opportunities Bridgestone HosePower will bring our employees and customers."
With the purchase, Bridgestone HosePower now boasts 44 U.S. locations and one in Mexico.