Perkasie Olde Towne Association

Prodesco, Inc., the privately-held leader in the design, development and manufacture of engineered textile structures for industries ranging from aerospace to industrial and medical industries, has announced that its board of directors has agreed for all of the company’s shares to be acquired by Fenner PLC, headquartered in Yorkshire, England, effective Feb. 5.  

Fenner is a worldwide leader in reinforced polymer engineering. Its products include conveyor belts for the mining and power generation markets, precision motion control products for the computer, copier and mechanical equipment markets, and sealing products for the mining, hydraulics, and oil and gas industries. The purchase includes all outstanding shares of Prodesco and its wholly-owned subsidiary in the medical fabrics market, Secant Medical LLC.

According to Nick Hobson, managing director of Fenner’s Precision Polymer Division, the acquisition was a logical extension of Fenner’s core expertise in textile engineering.

“Both Fenner and Prodesco have strong and long-standing reputations in specialized technical markets,” Hobson said. “We look forward to welcoming Prodesco, its employees and its customers into our worldwide company.

Corporate culture also played a role in the decision to join the businesses, according to Prodesco Chief Executive Officer Steve Chadwick.

“Both businesses have very deep roots,” said Chadwick. “In the case of Prodesco it’s 65 years, and for Fenner, it’s a century and a half. So it was important to make sure there was a good match culture-wise. We are pleased that both companies have family-like environments and an agile, entrepreunerial spirit, and we believe this synergy will benefit both Prodesco and Fenner over the long term.”

According to Fenner, both Proseco and its Secant Medical subsidiary will contiune to operate with current staff and leadership from existing facilities in Perkasie. No employee reductions or facility consolidations are anticipated. Fenner has additional locations in the United States, including production facilities in Manheim, PA, about two hours from Prodesco’s Perkasie offices.

Filed under: Uncategorized on February 29th, 2008