has made two acquisitions since April that will bolster its services to fluid power customers in Michigan, Indiana, and Illinois. Ritter is a distributor of industrial motion and control products based in Zelienople, PA. It currently serves customers based in Wisconsin, Illinois, Indiana, Ohio, Pennsylvania, and New York.
In April, Ritter finalized the acquisition of Tri-State Hose & Fitting, Munster, Ind. The transaction will strengthen the company's commitment to providing hose and connector products to the greater Indiana and Illinois region, with a focus on Northwest Indiana. In May, Ritter acquired Fluid Systems Engineering in Clinton Township, MI to bolster its engineered hydraulic and pneumatic product offerings for customers in the greater Detroit area.
Tri-State was founded in 1982 and was owned and operated by James Smith. “I have competed with, and worked closely with Ritter professionals in the past. I respect and trust the character of their organization and their commitment to customer service. We look forward to becoming part of the growing Ritter family,” says Smith.
Tim Hall, CEO of Ritter, commented on the Tri-State acquisition, saying “We are pleased to welcome Jim Smith and the highly talented Tri-State team to our expanding network of motion and control companies. Given Ritter's focus on providing products and services to our industrial customers in the Great Lakes Basin, Tri-State fills in our recently established Indiana footprint for hose and connector fittings. We see a great deal of synergy between our businesses and I look forward to working with Jim in the coming years.”
In the acquisition of Fluid Systems Engineering, Ritter will gain access to the company's expertise of nearly 56 years in serving the automotive, industrial and governmental markets. Fluid Systems Engineering also maintains a Parker Store in Clinton Township serving the Northwest side of Detroit.
We see a great deal of synergy between our existing Michigan operations in Detroit, Saginaw, Warren, and Wixom, and look forward to enhancing our product offerings to customers in this important market," states Hall.
Mark Steiner, President of the newly acquired division expresses his optimism in the acquisition. "We have talked to Ritter over the years and understand what a combined force could achieve in the Detroit market. We bring well-recognized hydraulic and system engineering and fabrication expertise to the table to help further penetrate Ritter's customer base with value-added and cost-efficient solutions," he says.
Terms of the acquisition are not disclosed as both companies are privately held.
