London – Fenner PLC has acquired US-based precision polymers business Revolution Drives Inc., according to a company statement on 29 Aug.
Fenner made the acquisition on 25 Aug, through its subsidiary Fenner Drives Inc.
Terms of the deal were not disclosed.
The Lititz, Pennsylvania-based Revolution Drives is a supplier of OEM and custom-designed belting products serving the power transmission, motion control, and conveying markets.
"This acquisition supports our stated strategy to grow our Advanced Engineered Products ("AEP") division and in particular it will complement the product and customer portfolio of our precision polymers business within AEP,” explained Mark Abrahams, CEO of Fenner, commented
Revolution Drives' CEO and majority shareholder, whose name was not provided, has joined Fenner's Precision Polymers business.