Tramec Sloan acquires Penz Products

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Courtesy Tramec Sloan

A Holland manufacturer and distributor of products for heavy-duty commercial vehicles and industrial applications acquired a similar company based in Indiana.

Holland-based Tramec Sloan, a division of Iola, Kansas-based Tramec LLC, said it acquired Mishawaka, Indiana-based Penz Products on Dec. 31 to broaden and strengthen Tramec’s manufacturing capabilities.

Terms of the deal were not disclosed.

Penz Products is a manufacturer serving a variety of markets, principally commercial vehicles. It was founded in 1956 by Wally Penzenik and is led today by his sons, Richard and David Penzenik.

With the purchase of Penz Products, Tramec Sloan will be able to expand its capabilities to include thermoforming, vacuum forming and urethane foaming, allowing the company to expand its offerings to the commercial vehicle marketplace and increase capacity for metal forming, assembly and robotic welding.

“Penz Products is a perfect complement to our existing product lines, target markets and manufacturing capabilities,” said Mark Holm, president of Tramec Sloan. “We will begin leveraging (its) strengths immediately to better serve our customer base in North America and beyond, and we’re very excited about the thermoforming and urethane foam applications for the commercial vehicle industry.”

Gary Sullo, president and CEO of Tramec LLC, said the addition of the Penz team, its product lines and manufacturing capabilities “further strengthens Tramec’s strategy of acquiring high-quality U.S.-based manufacturing companies to support our existing base of global customers, as well as expanding Tramec’s businesses to new markets.”

David Penzenik, president of Penz Products Steel Division, said his company is excited about the acquisition.

“Tramec Sloan is a very influential supplier to the commercial vehicle marketplace,” he said. “We expect the collaboration of our teams to quickly produce opportunities for growth.”

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