Tramec Sloan has acquired Penz Products, an Indiana-based family business that manufactures products for a variety of markets including commercial vehicles.
The acquisition builds on Tramec Sloan’s capabilities in thermoforming, vacuum forming, and urethane foaming. Collectively, that will help the business expand capacity for metal forming, assembly, robotic welding and more, the company says.
“Penz Products is a perfect complement to our existing product lines, target markets, and manufacturing capabilities,” Tramec Sloan president Mark Holm said in a press release, referring to the Dec. 31 purchase.
Terms of the purchase were not disclosed.
“We will begin leveraging their strengths immediately to better serve our customer base in North America and beyond, and we’re very excited about the thermoforming and urethane foam applications for the commercial vehicle industry,” he said.
Tramec Sloan products include air and electrical delivery, brass components, spray control, door systems, and cargo control, among other truck and trailer offerings.
“We are excited to join the Tramec Sloan team,” said David Penzenik, president of Penz Products’ steel division. “Tramec Sloan is a very influential supplier to the commercial vehicle marketplace. We expect the collaboration of our teams to quickly produce opportunities for growth.”
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