Precision Pulley & Idler completed the acquisition of Continental Global Material Handling from Stellex Capital Management.

Precision Pulley & Idler, a provider of conveying components, completed the acquisition of Continental Global Material Handling, a designer and manufacturer of material handling conveyor systems, from Stellex Capital Management, a private equity firm that invests in middle-market companies in North America and Europe. Financial terms were not disclosed. "We would like to congratulate the entire CGMH team for their achievements over the past three years under Stellex’s ownership. The sale to PPI is a testament to their hard work and successful execution of the strategic initiatives we identified at acquisition. It has been a privilege working alongside this talented team, and we wholeheartedly wish them continued success in their next chapter," Michael Livanos, Stellex Managing Director.