Parent Company of Ideal Industries, Inc. Acquires ABCO Manufacturing, Inc.
Oelwein, Iowa – January 18, 2019 – Heavy Metals, LLC, headquartered in Oelwein, Iowa, has expanded on its commitment to Iowa’s construction equipment market by announcing the acquisition of ABCO Manufacturing. ABCO Manufacturing produces belt conveyors, hoppers, feeders, vibrating screens and many other products for contractors, mines, quarries, barge terminals, and highway departments across the United States. The company’s products align well with existing Ideal-branded products and manufacturing capabilities.
Ideal Industries was named in 2018 to the Inc. 5000 list of the country’s fastest growing privately held companies for the third consecutive year. In comments made subsequent to that announcement, company president Patrick Lyons spoke to his company’s desire to find “growth opportunities in established markets”, including heavy construction, via strategic partnerships, mergers and acquisitions.
“We live in an area of the country where construction and related industries are a significant part of the economy, and we’ve aligned ourselves with companies making products in growth areas of that business sector,” he said. Lyons also commented on the mindset behind expanding the company’s existing line of OEM products. “We want to increase market share in our own product lines. This is a key element in our strategy of staying as close to the customer as possible.”
Doug Bryan, owner of ABCO Manufacturing is excited about the transaction: “Bryan Heavy Equipment (BHE) will continue as a key marketer of ABCO Equipment. Our distribution footprint coupled with these expanded manufacturing capabilities will make us a great team and help grow each other’s companies.”
Bryan also indicated that BHE is looking forward to providing input to Ideal Industries on potential new products and product lines and serving as a local conduit for information and feedback from its customers in the field.
ABCO will continue to operate from its current location and all employees are being retained. The combined organization employs over 100 people in Oelwein and Vinton and primarily serves customers in Agriculture, Construction & Mining, and Transportation.