In 2011, with 23 associates, IPR, Inc., generated sales of approximately $12.4 million. The terms of the investment were not disclosed, and the transaction is subject to normal closing conditions, including regulatory approvals.
"Securing a minority share of IPR will further strengthen our value chain and will provide a strong addition to our recent acquisition of Manesty Ltd., in the UK, and Huttlin, based in Schopfheim, Germany," said Gary Anderton, general manager, Bosch Packaging Services, Inc. Last year, Bosch acquired Manesty Ltd., which specializes in the manufacture of tablet presses and tablet coating systems and Huttlin, which produces specialty drying and granulation equipment.
IPR became the North American Service and approved OEM parts provider for Manesty Machines in 2007. Joseph Dougherty Jr., president of IPR, Inc., commented, "Combining IPR's controls knowledge with Bosch's manufacturing knowledge of Manesty machines will provide further value for our customers, which is an objective that both companies share. We are pleased to formalize IPR's strong relationship with Bosch."
The product and service portfolio of IPR includes equipment refurbishing to restore pre-owned machinery. The company also offers replacement parts and used equipment. In addition, IPR provides a wide range of control and automation products and services as well as tooling inspection and analysis systems.