Precision, Inc., Pella, Iowa, acquired Meyer Industries, Inc., a San Antonio, Texas-based provider of vibratory conveying, bulk material handling and food processing equipment.
“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,” says Roger Brown, president and CEO of 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 also 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,” adds Greg Stravers, senior vice president, food division, Precision.
Meyer’s 75 full-time engineering, customer service and skilled-trade employees will continue to work at the San Antonio plant. Eugene Teeter, former president and CEO of Meyer, will stay through the transitional period. All other key personnel, including Larry Marek, chief financial officer, and Jim Lassiter, vice president of 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,” says Teeter.