Ohio-based industrial distributor Triad Technologies LLC announced Jan. 10 its acquisition of Industrial Service Products LLC (ISP), a distributor of custom fabricated hose, valves, fittings and other related products. Financial terms of the transaction — which was completed Dec. 30, according to a news release — were not disclosed.
Based just outside of Chicago in Lyons, Illinois, ISP has been serving industrial customers since 1972. The acquisition is consistent with Triad’s strategy to expand its product offering, which already includes fluid power, industrial automation and fluid conveyance products.
“ISP’s broad offering of hoses, fittings, valves, loading, and safety equipment aligns nicely with Triad’s base of industrial customers and will complement our current offering of premium motion control and hydraulic products,” Triad President and CEO Greg Wissman said. “Importantly, we share a common commitment to the highest levels of customer service, technical expertise, and support.”
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“Triad’s additional resources and capabilities extend ISP’s ability to offer an even broader array of product categories that provide solutions for customer applications,” ISP president Steve Parker said. “And the combined company not only better positions ISP to meet the needs of its customers, but also creates growth and development opportunities for our employees.”
ISP is Triad’s second acquisition since partnering with private equity firm Shorehill Capital LLC in 2019, according to the release.
“ISP enhances Triad’s fluid conveyance and industrial hose capabilities, and it strengthens our footprint in Illinois and Indiana,” Shorehill managing director Charlie Denison said. “Looking forward, Triad continues to seek acquisitions that expand its product breadth and geographic reach to better serve its customers.”
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