IPEG acquires Pelletron
Canadian PlasticsPlastics Processes
Pelletron will retain its existing location, executives, and staff.
IPEG Inc., which owns auxiliary equipment makers Conair Group and Thermal Care Inc., has acquired Pelletron Corporation, a supplier of pneumatic conveying systems, dust removal systems, and other related products.
Pelletron will operate as an independent subsidiary at its existing location in Lancaster, Pa.
The financial terms of the deal are not being disclosed.
According to IPEG CEO Chris Keller, Conair and Pelletron are not competitors. “Whereas Conair offers vacuum-based systems that might convey hundreds or thousands of pounds per hour, Pelletron offers pressure-driven systems that are used by resin producers to handle thousands and tens of thousands of pounds per hour,” Keller said in a statement. “There is virtually no overlap.”
Pelletron, founded in 1987, has been operated by Heinz Schneider and Paul Wagner since 2003 and owned by them since 2008. The two will remain in their current roles of president and vice president. All other employees are also expected to remain with the company.
“There is potential for Conair to source some equipment from Pelletron and vice versa,” Keller said. “However, our primary focus is to help Pelletron grow doing what they do best, engineering high-throughput pneumatic conveying systems. Part of our growth strategy is to acquire solid companies, give them autonomy and invest in their growth. This is no different.”
According to Heinz Schneider, IPEG ownership will give Pelletron the financial strength to handle large projects that can run into the millions of dollars. “Our growth has been limited by our size, not by our know-how or capability,” Schneider said. “With the strong financial backing and global footprint of IPEG, which is much larger than Pelletron, our customers will be able to have more confidence in our ability to handle these larger projects.”
Pelletron has a European subsidiary, pelletroneurope GmbH, located in Bodnegg, Germany, and distributors and partners around the world.
Headquartered in Cranberry Township, Pa., IPEG employs more than 500 people worldwide.