Marietta, GA – Platte River Equity (“Platte River”) is pleased to announce its portfolio company Belt Power, LLC (“Belt Power” or the “Company”), a full-service distributor and fabricator of belting and components for lightweight conveyor systems, has acquired substantially all of the U.S. assets of Mol Belting Systems, Inc. (“Mol”). Founded in 1986 and based in Grand Rapids, MI, Mol is a second-generation, family-owned fabricator and distributor of conveyor belts and power transmission products and accessories. Mol’s technical fabrication capabilities and extensive product offering further bolster Belt Power’s position in the conveyor belting system solutions market.
“We are excited to join forces with the Mol team that has a legacy of innovation in the belting industry for over 38 years. The combination of our strong cultures and investments in our businesses creates an awesome opportunity for us to further develop leading-edge solutions to address our customers’ ever evolving requirements,” said Belt Power CEO, Don Heitmeier.
“We are thrilled for the opportunity to partner with the Belt Power team,” said John McMullin, Vice President of Sales at Mol. “We are excited to leverage the broader capabilities now available through Belt Power. At Mol, our focus was on finding solutions for our customers, and we are confident that this partnership aligns with that solutions-focused approach and will allow us to better serve the needs of our customers and to pursue additional growth opportunities.”
“The acquisition of Mol, coupled with Belt Power’s previous acquisitions, further accelerates the Company’s growth strategy in expanding its product capabilities and geographic reach,” said Tarun Kanthety, Vice President of Platte River. “Mol’s engineering and innovative capabilities will help Belt Power continue to deliver unique solutions to its customers.”
