Marietta, GA – Platte River Equity is excited to announce its portfolio company Belt Power, LLC (“Belt Power” or the “Company”), a leading, full-service distributor and fabricator of belting and components for lightweight conveyor systems, has acquired Reliable Rubber, LLC (“Reliable Rubber”). As a second-generation fabricator and distributor for more than 45 years, Reliable Rubber delivers a wide variety of lightweight belting products and services to customers across the Midwest from their location in Chicago. Reliable Rubber services a broad array of customer verticals, including paper & packaging, food processing, material handling and general industrial markets. The combination of Belt Power and Reliable Rubber provides a platform to deliver value-added solutions to customers across the Midwest and leverages Belt Power’s expanding footprint, fabrication capabilities and technical sales organization.
“Joining forces with the Reliable Rubber team allows us to build on longstanding customer relationships while leveraging significant investments we made in Chicago around inventory, state-of-the-art fabrication equipment and installation capabilities, all of which enable us to continue to focus on exceeding our customers’ expectations,” said Belt Power CEO, Don Heitmeier.
“At Reliable Rubber, we have spent the last 45 years serving our customers with the highest level of technical expertise and customer service. We are excited to leverage the extensive capabilities available through Belt Power to continue to grow and support our customers,” said Jon Cielinski, President of Reliable Rubber. “We have known the Belt Power team for quite some time and look forward to our partnership with them.”
“The acquisition of Reliable Rubber represents our third add-on since our investment in Belt Power last year,” added Tarun Kanthety, Vice President of Platte River Equity. “We are excited about the partnership and believe this acquisition will accelerate Belt Power’s growth and market reach in the Chicago area, which is a key market for the Company.”