Acquisitions and an expansion
Ohio-Based Canton under New Ownership
Canton Elevator, Inc., of North Canton, Ohio, has been acquired by Nidec Motor Corp., the St. Louis subsidiary of Nidec Corp. of Japan. Nidec noted the transaction will further enhance its elevator and drive systems portfolio, in turn increasing its competitiveness in that area. Founded in 1946, Canton has approximately 100 employees. In announcing the acquisition in December 2016, Nidec stated:
“The company’s expected growth will be driven through the combination of Canton’s decades of experience in reliable and high-quality elevator packages and cabs, as well as customer trust in Canton-branded products. . . . The company believes its financial strength and global presence will help lead the business combination to success.”
Matot Acquires Kelair
Matot Inc. has acquired Kelair Products Inc., an industrial damper company that has specialized in the custom design and fabrication of dampers for more than 30 years. Both Matot and Kelair offer “single source” capability in an effort to avoid problems often associated with outsourcing or dealing with multiple divisions of large corporations. Manufacturing will continue at the current Kelair location in Richmond, Illinois, until at least 2018 before being transferred to Matot, Inc., the premises of which are 57 mi. away in Bellwood, Illinois.
Matot has supplied lift equipment for 128 years and stated it is a family-owned business with similar philosophies, values and manufacturing processes, including sheet-metal fabrication and electrical/mechanical assembly. “All the capital equipment is the same, and bringing in this new manufacturing will bring greater efficiencies and diversify our sales,” said Jim Piper, Matot executive vice president. Anne Matot, owner of Matot, added:
“Our goal is to broaden our manufacturing base and provide excellent products and service to all customers. Like Kelair, Matot prides itself in being large enough to be a single source for customers’ most demanding equipment requirements and small enough to provide immediate, knowledgeable service with their design or process equipment requirements.”
KONE Acquires Downey Goodlein
KONE acquired the service and repair business of Downey Goodlein Elevator Corp. of Rochester, New York, in November 2016. Downey Goodlein has operated throughout the Rochester metropolitan area since 1965. KONE stated the acquisition brings it into a new market and “provides the talent and experience to expand the service, modernization and new installation business in upstate New York.”
Larry Wash, executive vice president for KONE Americas, continued:
“The acquisition of Downey Goodlein supports our goal of growing KONE’s presence across key geographic regions like the Northeast. The Rochester area represents a new market for KONE, and we’re excited to welcome Downey Goodlein employees in helping us bring innovative People Flow solutions to our customers.”
Marine-Lift Company Adds Home-Elevator Division
Marine and cargo lift manufacturer Tide Tamer Industries of Snow Hill, North Carolina, plans to invest US$560,000 in a new division that will manufacture and service home elevators, Area Development Online reported. Made possible in part by a state grant, the expansion promises to add 22 workers to a current staff of 24. New employees will include production workers, installation technicians and salespeople. Tide Tamer President F.H. “Buzz” Shackelford praised North Carolina’s strong workforce and supportive business environment, and thanked state and local officials for helping make the expansion happen.