Motion Industries to buy Colmar Belting
Motion Industries has entered into a definitive agreement to acquire Colmar Belting Company.
The closing of the transaction is expected to occur May 1.
Colmar Belting Company is a regional distributor focused primarily on power transmission and belting sales and service based in South Boston, Massachusetts. Its offerings include material handling related products such as conveyor belting, idlers and pulleys, as well as a wide spectrum of custom belt services such as slitting, fastening, and vulcanizing.
In business since 1933, Colmar serves the needs of numerous industries including aggregate, manufacturing, food processing, HVAC and recycling.
Michelle and Rob Labossiere, owners of Colmar Belting, said, “Throughout the growth of the company, Colmar has continually diversified to meet the challenges of this rapidly changing industry. Joining the Motion Industries team allows Colmar to continue to provide outstanding service to our customers, while providing excellent opportunities for our employees. We are excited to be part of Motion Industries.” Colmar Belting will continue operations under its existing management team in all locations.
"Growth is the key driver behind this transaction, and the complement of Colmar's belting and power transmission expertise places us in an even stronger competitive position in the Northeast," said Tony Cefalu, Motion's senior vice president of Shops and Services.
Tim Breen, Motion's president and CEO, added, "We welcome all Colmar Belting Company employees to the Motion family and look forward to working together to provide even better service to our customers across the industry."