IBT Industrial Solutions announced earlier this month that it has acquired Indesco Inc., a North Carolina distributor of hydraulic, pneumatic and power transmission components.
IBT officials said that the addition of the Charlotte company would expand its operations in the Southeast, where Indesco serves OEM and MRO customers in the industrial and maintenance segments as well as agriculture, food and beverage, material handling, textile equipment and woodworking machinery.
Officials said that IBT and Indesco leaders would work together to “develop and execute a thoughtful integration plan” over “the next several months.” Terms of the deal were not disclosed.
“This acquisition strengthens IBT’s ability to support customers with technical industrial solutions and expands our presence in a strong Southeastern market,” IBT President and CEO Jeff Cloud said in a statement.
IBT is a distributor of MRO products and provides engineering and industrial services. The Kansas-based company operates 38 locations across the central and southern U.S.
