TGW Transportgeräte GmbH completed its acquisition of conveyor-maker Ermanco (Spring Lake, Mich.) from Paragon Technologies (Easton, Pa.). Subject to a final working capital adjustment, Paragon received $23 million in connection with the sale. The company will do business in North America as TGW-Ermanco Inc. TGW-Ermanco’s expanded product line includes material handling technology for totes, cartons, pallets, and storage and retrieval systems for small applications as well as fully automated distribution centers. Based in Wels, Austria, TGW has subsidiaries in Germany, the United States and Spain. The company has 500 employees worldwide.
Source: TGW Transportgeräte GmbH, Paragon Technologies