, Cresco, PA, a manufacturer of industrial brushes, abrasives and maintenance products, has acquired Anderson Products
, Worcester, MA, in a transaction with JET Equipment & Tools.
As reported in the May 10 issue of MDM, the deal is part of JET's acquisition of Wilton Corporation, the former parent company of Anderson Products.
Weiler intends to operate Anderson as a stand-alone organization under the leadership of Dick Gommel, president/CEO with an independent sales force. 'We strongly believe in the brand equity of both Weiler and Anderson,' Gommel said. 'Our intent is to operate the organizations as independent companies, each having well-known and well-respected brand names in the marketplace. By combining the market shares of both companies, the acquisition strengthens Weiler's leadership position in the surface conditioning industry.'
Anderson Corporation was founded in 1928 as a manufacturer of industrial brushes. Over the years, Anderson expanded its product mix to include maintenance and abrasive products. In 1984, Anderson became Anderson Products, a Division of Wilton Corporation. In April of this year, JET Equipment & Tools acquired Wilton. As part of the deal, JET and Weiler signed a letter of intent for Weiler to acquire Anderson's assets.
Please do not reprint MDM's content on your website without MDM's express permission as it is copyrighted material. To gain permission, email us, or call 1-888-742-5060. For information on PDF or print reprints, visit www.mdm.com/reprints. MDM welcomes inbound links from your site. Please cite Modern Distribution Management.
Download the Top 40 Industrial Distributor List Free
Get the Top 40 Industrial Distributors list in PDF, and you will be signed up below to receive MDM Update, your free daily distribution news update by email.