Tramec Sloan, a division of Tramec, LLC, has acquired Penz Products Inc., bringing together two established U.S. manufacturers to broaden and strengthen manufacturing capabilities.
The acquisition was finalized Dec. 31, 2021, and was announced last week. Penz Products is a diverse manufacturer, located in Mishawaka, Ind., serving a variety of markets, principally commercial vehicles. It was founded in 1956 by Wally Penzenik and led today by his two sons, Richard and David Penzenik.
With Penz Products, Tramec Sloan says it expands its capabilities to include thermoforming, vacuum forming, urethane foaming, and more. This allows Tramec Sloan to expand offerings to the commercial vehicle marketplace and increases capacity for metal forming, assembly, robotic welding, and other key capabilities.
“Penz Products is a perfect complement to our existing product lines, target markets, and manufacturing capabilities,” said Mark Holm, president, Tramec Sloan. “We will begin leveraging their 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.”
Adds Gary Sullo, Tramec president and CEO, “The addition of the Penz team, their product lines, and their 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.”
“We are excited to join the Tramec Sloan team,” says David Penzenik, president, Penz Products Steel Division. “Tramec Sloan is a very influential supplier to the commercial vehicle marketplace. We expect the collaboration of our teams to quickly produce opportunities for growth.”
