Meyer Industries, Inc., a world leader in designing, engineering and manufacturing of vibratory conveying, bulk material handling and food processing equipment, has announced today that it has been acquired by Precision, Inc., an international employee-owned heavy industry conveyor, pulley and idler manufacturer based out of Pella, Iowa.
“The acquisition of Meyer adds additional products and markets to our food industry sales and will complement our product offerings from our Kofab operation. With the addition of Meyer, we now have two prominent brand names in the industry and have a tremendous base to grow this segment of our business,” stated Roger A. Brown, President/ CEO, Precision.
The acquisition will better serve the needs of Meyer Industries’ customer-base by providing a larger platform of research, engineering and manufacturing resources. The purchase agreement fits into Precision’s business strategy of being a provider of high performance and innovative conveyor products and solutions. With this newest acquisition, Precision has established a Food Division.
“I am really excited about the opportunity to lead this new division within a company that I have been proud to be a part of for the past 16 years. With this acquisition, Precision is poised to grow significantly and be a major manufacturing presence in the food processing industry,” stated Greg Stravers, Senior Vice President, Food Division, Precision, Inc.
Founded in 1945, Meyer has a long and rich manufacturing history in San Antonio. From the invention of the automatic pecan cracker to the recent addition of the Magna Weigh, the company has long been known for innovation and manufacturing excellence. Meyer purchased Garroutte Inc. in 1999 combining industry knowledge and experience into a single bulk material handling and food processing equipment manufacturer. The company services its Fortune 100 national and international customer base with manufacturing and production facilities located in San Antonio, Texas.
The over 75 full-time engineering, customer service and skilled-trade employees will continue to work at the San Antonio plant. Customers and vendors are not expected to experience any disruptions during the transition. Eugene Teeter, Former President/CEO, for Meyer, will be staying with the company through a transitional period. All other key personnel, including Larry Marek, CFO, and Jim Lassiter, VP Sales, will be staying with the company.
“This is a win-win. Our team has always been dedicated to custom solutions and meeting the needs of the customer. Teaming up with Precision will only provide greater resources for our customers and our employees. The company culture and the hands-on engineering and manufacturing attitude made it the perfect fit for the growth of Meyer Industries,” stated Eugene Teeter, Former President/CEO, Meyer.
The integration process has started and will take place over the next few months. The goal is to continue to provide the highest level of service to customers. For more information regarding the acquisition visit www.ppi-global.com or www.meyer-industries.com.