CRANBERRY TOWNSHIP, PA. — IPEG Inc., the parent company of Rapid Granulator AB and Conair Group, has acquired Republic Machine Inc., a manufacturer of single-shaft shredders based in Louisville, Ky.
IPEG intends to operate Republic as a division of Rapid Granulator, maintain the Republic Machine brand name, and retain the company's management, including founder George Sotsky.
Terms were not disclosed for the deal, announced April 15.
The move greatly expands the product line of Rapid Granulator, which has its core business in granulators, smaller high-speed grinders. "This acquisition allows us to expand beyond plastics scrap reclaim and into the broader recycling market," Rapid CEO Kirk Winstead.
Rapid Granulator is based in Bredaryd, Sweden. IPEG, along with auxiliary equipment maker Conair, is based in Cranberry Township, near Pittsburgh.
Republic shredders will be sold in North America through existing Republic distribution channels and globally through Rapid and Conair.
Winstead said Rapid Granulator has not had a major presence in the shredder market. "One of the goals for IPEG and Rapid Granulator is to be the global leader in the overall size-reduction market, and this acquisition is an important step to realizing that vision," Winstead said.
IPEG CEO Chris Keller made the announcement. "We look forward to honoring the heritage of the Republic Machine brand and investing on the continuing evolution of its product portfolio," Keller said.