Pennsylvania distributor the Conrad Company has been acquired by Pittsburgh private equity firm Incline Equity Partners, company officials announced Tuesday.
Conrad provides fluid power, motion control, automation and related industrial products and services, including pneumatics, hydraulics, lubrication, compressed air and more, to both OEMs and end users across nine states in the Mid-Atlantic and the Southeast. The York-based company, which dates back to the startup Penn-Air Company in the late 1960s, today includes five locations, seven brands and a staff of over 150.
Seth Bray, the distributor’s CEO, said that the move would allow Conrad to invest in its sales and technical staff, cultivate new relationships and bolster its overall capabilities. Terms of the deal were not disclosed.
“We are proud of what our team has built over the past 58 years,” Bray said in the announcement.
“The Conrad Company’s technical product expertise and high-quality service have supported long-term customer relationships,” added Incline Managing Director Michael Antonelli. “We are excited to pursue opportunities to expand into adjacent offerings organically and through strategic M&A.”
