UPDATED: Quincy Compressor LLC of Quincy, Ill. has announced a definitive agreement to divest its assets in Ortman Fluid Power to Lambertville, N.J.-based Lehigh Fluid Power Inc.
The sale is expected to close during the first quarter of 2015. Officials said this offers opportunities for customers of Lehigh and Ortman who will now have access to a wider range of products, as well as a broader national network of cylinder experts and distribution.
“Ortman’s customers can rely on the century-long heritage of Lehigh Fluid to provide high quality fluid cylinder options and sales support,” said John Thompson, president, Quincy Compressor. “Until the acquisition closes, Quincy will continue to operate Ortman as it does today.”
The acquisition is expected to close in the first quarter of 2015. Ortman Fluid Power will continue to be headquartered and manufacture in Quincy IL, as a wholly owned subsidiary of Lehigh Fluid Power, Inc. With this change, much of the day-to-day business will continue uninterrupted and as usual.
Lehigh Fluid Power Inc.
www.lehighfluidpower.com
Quincy Compressor LLC
www.quincycompressor.com
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