The Oelwein-based corporate parent of Ideal Industries in Vinton is expanding its presence in Iowa’s construction equipment market.
Heavy Metals LLC has purchased ABCO Manufacturing, in Oelwein, a producer of belt conveyors, hoppers, feeders, vibrating screens and many other products for contractors, mines, quarries, barge terminals and highway departments.
ABCO was founded in 1967 by Robert Ruark and sold in 2016 to Doug Bryan of Bryan Heavy Equipment in Oelwein.
The company will continue to operate at 801 Second Ave. SE in Oelwein, and all employees are being retained.
The combined organization employs more than 100 people in Oelwein and Vinton and primarily serves the agriculture, construction, mining and transportation.
Patrick Lyons, president of Ideal Industries, said in a news release that his company wants to pursue growth opportunities in established markets, including heavy construction, through strategic partnerships, mergers and acquisitions.
“We live in an area of the country where construction and related industries are a significant part of the economy,” Lyons said. “We’ve aligned ourselves with companies making products in growth areas of that business sector.”
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Lyons said his company wants to increase its existing line of original equipment manufactured products.
“We want to increase market share in our own product lines,” he said. “This is a key element in our strategy of staying as close to the customer as possible.”
Doug Bryan said Bryan Heavy Equipment will continue as a key marketer of ABCO equipment. The company is looking forward to providing input to Ideal Industries on potential new products and product lines, he said.
Ideal Industries was named in 2018 to the Inc. 5000 list of the country’s fastest-growing, privately held companies for the third consecutive year.