Motion Industries, Inc., a wholly owned subsidiary of Genuine Parts, last month entered an agreement to acquire Colmar Belting Company. The closing date was set as May 1, 2016.
Colmar Belting Company is a regional distributor focused primarily on power transmission and belting sales and service based in South Boston, Mass. Their offerings include material handling related products, such as conveyor belting, idlers and pulleys, as well as custom belt services, such as slitting, fastening and vulcanizing. Colmar serves numerous industries including aggregate, manufacturing, food processing, HVAC and recycling.
“Throughout the growth of the company, Colmar has continually diversified to meet the challenges of this rapidly changing industry," said Michelle and Rob Labossiere, owners of Colmar Belting. "Joining the Motion Industries team allows Colmar to continue to provide outstanding service to our customers, while providing excellent opportunities for our employees. We are excited to be part of Motion Industries.”
Colmar Belting will continue operations under its existing management team in all locations.
"Growth is the key driver behind this transaction, and the complement of Colmar's belting and power transmission expertise places us in an even stronger competitive position in the Northeast," said Tony Cefalu, Motion's senior vice president of shops and services.
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