Komatsu sold Continental to Stellex in March 2021. (Photo: Continental)
Precision Pulley & Idler (PPI) announced it has agreed to acquire Continental Global Material Handling from Stellex Capital Management. Continental, based in Winfield, Alabama, has been a leader in bulk material handling for decades. The transaction is expected to close quickly.
“Continental has earned its position as one of the most well-respected brands in the industry,” said Matt Buckingham, president and CEO of PPI. “We believe the two businesses are stronger together than apart. The combination of PPI and Continental’s complementary product lines will allow us to enhance our offerings to the mines, backed by our combined conveying expertise, quality products, and industry-leading customer service.”
In March 2021, Stellex acquired the stock of Joy Global Conveyors Inc. (Continental) and the assets of Komatsu’s Australia-based conveying business from Komatsu, and formed Continental Global Material Handling LLC.
