Apache acquires Trico Belting & Supply
Apache Inc. has acquired Trico Belting & Supply Company, a supplier of light-duty conveyor belting with locations in Cincinnati and Chicago.
This is the fifth acquisition in five years for Apache, which has doubled its revenues since 2009.
The path for the acquisition was cleared in September when Apache changed its business model from selling directly to end users. Apache now concentrates its sales efforts on distributors, dealers and OEM customers.
“This acquisition is Apache’s largest one to date, and we are thrilled to bring on board the expertise and commitment to excellence of John Shafer and the team at Trico,” said Tom Pientok, Apache president and CEO. “When you consider the combination of these two highly complementary, well-known names in the industry, this acquisition simply makes sense.”
Trico fabricates light duty belting products used in package handling, food handling, specialty belting, and power transmission.
“It doesn’t happen often that you bring together two companies that are such a natural fit,” said John Shafer, president of Trico, who will remain with the company. “This acquisition brings together two great companies with a strong passion for customer service and helps provide distributor and OEM customers with more of the products, services, solutions and technical expertise.”
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
