Foster Manufacturing acquires customer’s product line

Foster Manufacturing will purchase St. Clair-based DynaQuip’s air and hydraulic line quick disconnect coupler business and all related assets for an undisclosed amount.

DynaQuip, a long time customer of Foster, chose to sell its coupler line and focus on its valve production business, said Dan Nowlin, president of Foster.

“There have been discussions going on for a long time,” he said. “It gets us into some sales channels that we’re not into today, and it grows our distribution channels.”

Nowlin said the acquisition should increase Foster’s business by more than 40 percent. Revenues stand at more than $10 million and should reach more than $14 million following the purchase, he said.

Foster’s distribution base will see a 20 percent increase as well, Nowlin said. The purchase of the product line brings customers such as Grainger, Motion Industries and Sears to Foster, which produces quick detachable couplers for air tools as well as a line of air and blow guns.

Foster, founded in 1946, employs 43, at 2324 W. Battlefield, and Nowlin said the acquisition will create at least five jobs. Employees from DynaQuip will not transfer to Foster, Nowlin said.

[[In-content Ad]]