Midwest Industrial Rubber, a portfolio company of Incline Equity Partners, has acquired Berlin, Connecticut-based New England Belting Company, a provider of specialty belts. No financial terms were disclosed.
Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, is pleased to announce its portfolio company, Midwest Industrial Rubber (“MIR” or the “Company”), a leading value-added supplier of lightweight conveyor belting and related components, has acquired New England Belting Company (“NEBCO”).
NEBCO is an independent provider of specialty belts including edge belts, wave solder belts, timing belts and vacuum belts. Based in Berlin, CT, NEBCO has been the trusted brand in the Northeast for belting supplies for over fifty years.
“This marks the second acquisition since partnering with Incline in 2016,” said Mike Bruhn, CEO of MIR. “An important part of our growth strategy is finding companies to acquire in geographies targeted for expansion. These acquisitions provide quick access to new or underserved markets and strengthens both companies’ ability to serve customers.”
The acquisition gives MIR a stronger presence in the Northeast, allowing the Company to provide more direct fabrication, installation and on-call services to customers in the region. Additionally, the combined entity will have a broader selection of products to offer customers.
“NEBCO is a recognized and respected brand in the industry and will continue to operate as NEBCO, a division of MIR,” said John Morley, Managing Director of Incline. “The acquisition broadens the overall product and service offering, and we are pleased to have the NEBCO owners with us moving forward.”