News

Aug 20, 2023

Honey Brook manufacturer makes fifth strategic acquisition

R-V Industries Inc., an industrial equipment manufacturer based in Honey Brook, Chester County, is continuing its strategic growth with the announcement of the acquisition of Ackley Machine Corp.

R-V Industries Inc., an industrial equipment manufacturer based in Honey Brook, Chester County, is continuing its strategic growth with the announcement of the acquisition of Ackley Machine Corp.

Located in Moorestown, N.J., Ackley provides pharmaceutical and confectionary printing, laser writing/drilling, and vision inspection equipment — marking logos and identifying marks on some of the medicines, vitamins and candies many consume every day.

Financial details of the transaction — which closed on June 13 — have not been released. The acquisition is R-V Industries’ fifth since 2007, and the company’s second outside of Pennsylvania.

“Ackley provided an opportunity to add both a high-quality product line and a team of talented individuals,” Kirk A. Putt, R-V president and CEO, said in a statement. “We will leverage our collective strengths to provide the most innovative equipment solutions and services in the industry.”

In an emailed response to questions, Putt said the two companies had been in discussions over multiple years.

He said acquiring Ackley further diversifies, R-V’s product lines and end markets.

“They have a strong market presence in both the confectionary and pharmaceutical industries,” Putt said, adding that diversification has been a core business strategy for R-V Industries over the past 49 years.

“Our most recent acquisitions have all been focused on the future of manufacturing — automated machinery that helps our customers more efficiently produce the products people want and need,” Putt said, adding that Ackley expands R-V’s international presence, generating 50% of its sales outside of the U.S.

In his emailed response to MediaNews Group, Putt said that while R-V has been active in the pharmaceutical market in its Genesis Packaging (injectables), Beta Star Life Science Equipment (sterilization), and ASME Code divisions (reactors),“the Ackley acquisition adds a different segment of the market by serving solids producers for products such as tablets, capsules and softgels.

Acquiring Ackley also adds a New Jersey manufacturing location to R-V’s Pennsylvania and Illinois facilities.

Putt said Ackley will continue to operate on its own, as a subsidiary of R-V Industries, and Ackley’s 33 employees will remain with the company. In addition, the company’s officers — Mark Ford, David Pressler, and Betty Bollinger — will continue managing daily operations at Ackley’s Moorestown facility.

“We’re excited to begin this new journey as part of R-V Industries,” Ackley’s management team said in a statement. “By combining our strengths and our shared dedication to quality and innovation, we believe this synergy will elevate our capabilities and deliver enhanced value to our customers. This exciting partnership promises a future of growth and innovation.”

The transaction with Ackley follows acquisitions of MBC Aerosol (2022), Beta Star Life Science Equipment (2007), AccuDraft (2012) and Genesis Packaging Technologies (2018), the company said. Putt added that the company is actively engaged in additional acquisition opportunities along with growth of existing markets through business development and hiring of additional talent.

R-V now has more than 300 employees in three states and more than 200,000 square feet of manufacturing space.

In addition to its headquarters, R-V Industries operates manufacturing and warehouse space in Honey Brook and manufacturing space in Morgantown. In 2019, R-V Industries purchased a 44,000-square-foot building a short distance from R-V’s headquarters at 584 Poplar Road.

The building was renovated during the COVID-19 pandemic, and in 2020, Genesis Packaging Technologies moved from Exton to the newly renovated location.

R-V Industries, founded in 1974, is an industrial process equipment manufacturer that specializes in producing jacketed vessels and offers fabrication, machining, assembly and finishing services. The company serves customers across biotechnology, chemical, food and beverage, life sciences, nuclear waste, oil and gas, paper and pulp, pharmaceutical, and power generation industries.

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