Austin, Texas — (CNN) It’s been a slow start to the year for Texas industrial equipment manufacturer, Austin Industrial, but the Austin, TX-based company is finally getting its products into customers’ hands.
The Austin Industrial Supply Company, LLC announced Wednesday that it had acquired Texas Industrial Equipment and Equipment Supply, Inc., a Texas company that makes industrial equipment.
Austin Industrial’s announcement comes just days after the company was named one of the most trusted manufacturers of industrial equipment by the National Institute of Standards and Technology.
“We’re very excited to be partnering with the company and we look forward to continuing to build the brand in Texas,” said John DeBevoise, CEO of Austin Industrial.
“Our customers in Texas have been very pleased with our products and services, and we want to continue to be the go-to choice for industrial equipment.”
The deal will bring the company’s supply chain to nearly 80 countries, according to a press release.
The deal was negotiated by Austin Industrial and a group of partners, including companies in the automotive and construction industries.
The company’s products are primarily used in aerospace, defense, mining, mining equipment, energy, and utilities, according the press release, which was provided by Austin’s parent company, the Austin-based Austin Development Company.
Austin’s industrial supply chain includes products from the automotive, construction, and aerospace industries, according its press release and website.
In addition to the Austin industrial equipment supply, the company makes industrial vacuum cleaners, vacuum equipment, industrial refrigerators, industrial pressure gauges, industrial ventilation equipment, and industrial ventilation gear, according.
“The Austin Industrial supply chain has grown substantially and we’re very proud to have the company we call family and friends to continue that growth,” said Scott Smith, president of Austin Development Co. “As we continue to grow and develop the business, we’ll continue to look to acquire additional businesses that can provide our customers with more affordable, high-quality, quality industrial equipment products.”
Austin Industrial said the deal was finalized by the Texas Department of Commerce and the Texas Industrial Association.
It’s the latest in a string of acquisitions that have occurred since Austin’s Industrial Supply Chain Development Corp. was created in 2015.
The firm has raised more than $3 million from investors including the investment firm Lazard, the Carlyle Group, and the Carlyson Group.
The Texas Industrial Alliance and the Association of Texas Manufacturers also have been involved in the deal.
“Austin Industrial is an excellent company to work with because of their strong commitment to customer satisfaction and the quality of their products and workmanship,” said Jeff DeBovee, CEO and co-founder of Austin Industry.
“With our recent acquisition of the Austin Manufacturing Company, the focus will be to build our future success in Texas.”