May 23, 2016 – Ansonia, CT – Troy Industrial Solutions, headquartered in Watervliet, NY, announced they have closed on the purchase of Motors and Drives LLC located in Milford, Connecticut. MDLLC was founded more than 40 years ago by Charles A. O’Donnell III and was a leading supplier of motors, drives and controls servicing manufacturers in the United States and around the world. When O’Donnell passed away earlier this year, his family gave Troy Industrial the opportunity to acquire the business.
Jason W. Smith, president and third-generation owner of Troy Industrial says, “Chuck was a brilliant engineer and built a business that has a high level of customer loyalty. This is a great acquisition for Troy, and it strengthens our position to service our customers in the Connecticut market. We will honor Chuck by continuing his legacy of exceptional technical service.”
Details of the acquisition were not disclosed. Troy Industrial revenues are close to $35MM, and the company currently employs 125 people. Troy will acquire all MDLLC assets and merge it with the northeast service center in Ansonia, Connecticut.
Daniel O’Donnell, one of Charles O’Donnell’s eight children, says, “Our dad spoke very highly of Jason and the reputation of Troy Industrial and their family values. We felt they were the best choice to service our customers, many of whom became close friends throughout the years. We feel that the Troy team will do an excellent job of continuing Chuck’s legacy and believe our customers will find excellent service from the folks at Troy.”
Troy Industrial Solutions was founded in 1862 as a provider of leather belting and mill supplies for industrial machinery used in mills, mines and factories that located in the northeastern United States. Today, Troy Industrial Solutions provides products and services to a variety of industries including chemical, mining, food and beverage, aggregate, pharmaceuticals, paper and pulp, cement, power generation, and packaging, as well as water, waste and hydropower systems for municipalities.
“As we continue our expansion in New England, it is important for us to recognize the rich history of all the companies and build on the technology and intellectual capital we’ve developed to solve the challenges our manufacturing clients face in a highly competitive marketplace,“ Smith says.