Midwest Industrial Rubber, a portfolio company of Incline Equity Partners, has acquired Michigan-based Van Con Inc, a distributor of conveyor belting for the food, paper, industrial and automotive industries. 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”), a leading fabricator and distributor of lightweight conveyor belting and related components, has acquired Van Con, Inc. (“Van Con”). This marks the third add-on acquisition for MIR in under four months.
Van Con, based outside of Detroit, Michigan, is a distributor of conveyor belting for the food, paper, industrial and automotive industries.
“The acquisition expands our geographical footprint into the Michigan region and our capabilities in the automotive end market,” said Brian McSharry, CEO of MIR. “This supports our strategy of delivering superior service through proximity to our customers.”
“We are thrilled to complete our third acquisition at MIR in a short period of time,” said Jack Glover, Partner with Incline. “Growth through acquisition is an important component of our strategy. We are continually looking for companies that expand MIR’s geographic footprint, add product lines or open the door to new end markets.”