Enbi Group Acquires New York Company
SHELBYVILLE - Shelbyville-based Enbi Group has acquired an industrial roller manufacturer in New York. Financial terms of the deal for Pierce Industries are not being disclosed, however Enbi says the acquisition will expand its capabilities and positions the combined company for strategic growth.
Enbi, which itself was acquired in April by Massachusetts-based private investment firm Watermill Group, manufactures precision rollers, insulation, gaskets and sealing technologies. By adding Pierce Industries to its portfolio, the company says it will be better able to serve customers in all end markets, including digital printing, packaging, HVAC, aerospace and transportation, among others.
"Pierce Industries has reinvented the way OEMs weld and manufacture industrial rollers and repurpose worn machinery, strengths which are invaluable in today’s increasingly competitive marketplace," stated Tracy Streckenbach, interim chief executive officer of Enbi and partner at Watermill. "By linking Pierce’s innovation expertise with Enbi’s precision engineering leadership, we can bring new capabilities, solutions and opportunities to our combined customer base."
Pierce President and CEO Richard Webb says early collaboration between the two companies showed, together, they can provide a set of products and services that neither business could have offered alone.