Ritter Technology Acquires Primet Fluid Company
Ritter Technology, LLC has acquired Primet Fluid Power Company located in Hammond, Indiana. This acquisition strengthens Ritter's commitment to provide systems solutions to its customer base in the greater Chicago metropolitan area with a special focus on Northwest Indiana.
Primet was founded in 1983 by William J. Bestow, Sr. who built the business with his son, Bill, who remains as Primet's president.
"We are pleased to welcome Bill Bestow and the highly talented Primet team to our expanding network of professionals. Given Ritter's focus on providing products and services to our industrial customers in the Great Lakes Basin, Primet is a perfect partner for Ritter. We have worked successfully with Primet in the past and we see a great deal of synergies between our businesses," stated Tim Hall, chief executive officer of Ritter Technology, LLC.
Bill Bestow further noted: "As a smaller specialty supplier, I appreciated how Ritter approached us about joining forces. Our new partnership with Ritter's technical team will enhance Primet's ability to continue tailoring solutions in accordance with our customer's needs. I have worked closely with Ritter professionals in the past and I trust the character of the organization and their commitment to customer service. We plan to go forward together boldly."
Terms of the acquisition are not disclosed because both companies are privately held.