ST. LOUIS—Midwest Industrial Rubber Inc. has made its fourth acquisition of 2018 with the purchase of conveyor belting distributor Jerry Brothers Industries.
The acquisition of Jerry Brothers not only expands MIR's portfolio, it extends its reach in key geographical areas with the addition of two sales and service locations—in Richmond, Va., and Charlotte, N.C.
"This strategic acquisition expands both our geographical footprint in the Virginia and North Carolina regions and our capabilities in attractive end markets," MIR CEO Brian McSharry said in a statement. "This acquisition is another significant step in our growth strategy, which calls for us to continue to be as close as we can be to our customers."
Nationally, MIR operates 25 sales and service locations. Its corporate offices are in St. Louis.
Founded in 1905, Jerry Brothers Industries' grew steadily on the provision of conveyor belting for the tobacco industry. In the 1980s, the company diversified its product offerings and opened its Charlotte location to support this goal. Today, the company provides products for bakery, cookie and cracker, meat, salad, tobacco, printing and paper, box and distribution center customers.
"We began as a family business in the early 1900s and have worked hard to maintain that family-owned atmosphere throughout the years," Jerry Brothers President Mandy Lushch said in a news release. "We believe in investing in our workforce, embracing the creativity of our diverse team, and conducting all business with integrity. Teaming up with MIR will help JBI fulfill its growth potential in our rapidly expanding marketplace, while maintaining our core values of respect for employees and exemplary customer care."
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 purchased Maple Grove, Minn.-based Conveyor Belting Supply in February, and acquired New England Belting Co. of Berlin, Conn., and Michigan-based Von Con Inc. in May and June, respectively.