IPEG Inc. (Cranberry Township, PA) has acquired Thermal Care Inc. (Niles, IL), boosting its heat transfer presence in the plastics industry and building out its auxiliaries portfolio, which already includes The Conair Group, Rapid Granulator, and Republic Machine, which it acquired only 11 days prior.
"We are absolutely thrilled to be making this announcement today," Chris Keller, IPEG CEO, said in a teleconference to discuss the deal. "We've known the business and the people associated with it for many, many years, and we're very excited to bring them onto our platform. It's a fantastic strategic fit, fantastic cultural fit, and we look forward to growing Thermal Care and all of the IPEG platform."
Just as the Republic Machine deal augmented the group's size-reduction portfolio, adding the Louisville, KY based firm's line of single-shaft shredders to Rapid Granulator's offerings, Keller noted that Thermal Care's heat-transfer technologies complement and augment Conair's....