The acquisition allows Reel Power to provide a turn-key downstream package to customers, increasing its automation offering for improved productivity. Novatec can now focus on its core conveying, drying and moisture equipment solutions, providing a strong product offerings base to expand its lead in overall business.
Sep 23, 2024
Reel Power Industrial Inc has acquired the downstream equipment products for extrusion lines from Novatec Inc. This downstream product divestment allows Novatec to focus on its core conveying, drying and moisture equipment solutions, providing a strong product offerings base to focus on and expand its lead in its overall business.
The acquisition is also a strong fit for Reel Power, which already offers high-quality downstream reeling, coiling, and spooling solutions for several markets. This acquisition allows Reel Power Industrial Inc to provide a turn-key downstream package to customers, one that increases the automation offering for improved productivity.
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Reel Power focuses on providing application-specific coiling, reeling and spooling solutions to prospects needing downstream equipment to solve their line requirements. With the addition of pullers, cutters and cooling tanks, Reel Power Industrial will be able to provide to customers a complete downstream solution.
Both Reel Power Industrial and Novatec design, manufacture and market high-quality capital equipment solutions.
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Conrad Bessemer, CEO Novatec & Joe Henry, CEO Reel Power Industrial Inc, believe that their respective companies will benefit from this transaction, as it provides each with the ability to improve their overall company’s strategic market focus, and to concentrate those efforts on a well-defined, market segmented business models.
