By Generational EquityOct 24, 2018, 09:00 et
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Rubber Plus Inc., to All-State Belting LLC. The acquisition closed April 20, 2018.
Rubber Plus, based in Knoxville, Tennessee, is a distributor of industrial rubber products and related parts. Key products include rubber conveyor belts, European style belts, light-duty PVC belts, belt fasteners, conveyor accessories, hose tubing and ducting.
All-State Belting, based in West Des Moines, Iowa, has been providing customers with superior quality conveyor belting and accessories throughout North America for 40 years.
Founded as a distributor of bulk rubber and conveyor components, All-State has expanded its capabilities to include rubber fabrication, field splice installation services, and custom rubber part manufacturing. All-State operates out of seven facilities in Iowa, Ohio, North Carolina, South Carolina, Texas and now Tennessee.
Generational Equity Senior Managing Director Julie Sandoval successfully closed the deal, and Senior Managing Director Rick Buchoz established the initial relationship with Rubber Plus.
According to Sandoval, “Rubber Plus was a well-established business that had local and regional recognition, so it was important to find a qualified buyer who would not only be able to take the company to the next level, but to care for the company and its employees. This acquisition appeared to be an excellent, synergistic fit.”
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