Company continues aggressive growth strategy through acquisition of Lane Conveyors and Drives of Brewer, Maine

Family-owned Troy Industrial Solutions was founded in 1862 in upstate New York. Since then, the company can attest to 150-plus years of maintenance, repair, and operations in the northeast region. The company has constantly expanded, both in area and services, over that century-and-a-half timeline, a progression that continued last week with the acquisition of Lane Conveyors and Drives of Brewer, Maine. In a press release announcing the acquisition, Lane’s Bob Taylor revealed that the move was initiated by Lane as part of its exploration of potential exit strategies.

Troy Industrial Solutions Signs Agreement to Purchase Lane Conveyors and Drives of Brewer, Maine. Continues Growth Strategy Into New England

Troy Industrial Solutions, headquartered in Watervliet, NY, announced they have signed an agreement to purchase the assets of Lane Conveyors and Drives headquartered in Brewer, Maine. Lane was founded in 1959 as an industrial distributor of supplies and power transmission equipment servicing the paper manufacturing and woodlands industry.

Albany Business Review

Troy Industrial Solutions is preparing to pursue new opportunities producing metal prototypes. Two months after investing more than $150,000 to install its first computerized lathe machine, general manager David Barcomb says the investment has positioned the company to pursue new business and diversify the company’s revenue stream. “We’ve seen some immediate paybacks,” Barcomb said. “Production is much faster…

Troy Industrial Solutions working to expand client base, revenue

The Business Review: Troy Industrial Solutions is expanding its client base to meet David Barcomb’s goal of $20 million revenue. Barcomb, Troy’s general manager, said the company is south of $18 million. “We’re trying to expand on our 3,000-client database,” Barcomb said. “We’re also trying to grow the business within our existing customer base.” The company, which…