Peerless Industrial Group Acquires Letellier Material Handling Equipment, Inc.

Winona, MN

The Peerless Industrial Group (“Peerless”) is pleased to announce its purchase of Letellier Material Handling Equipment, Inc. (“LMHE”).

Located in South Holland, Illinois, LMHE was founded in 1974 and specializes in the design, manufacturing and servicing of high quality custom material handling equipment. LMHE provides these specialized products into various industries with a focus on creating lifting solutions for its customers.

Peerless, an industry leader in lifting chains, accessories and custom lifting slings, will add the LMHE products as a complement to Peerless’ diverse product offering. The acquisition will also expand the breadth of Peerless’ manufacturing capabilities as it continues to enhance its high-level of service to its customers. “We are very excited to add the LMHE team and products to our offering;” stated Tom Wynn, Peerless CEO, “the combined Peerless and LMHE product package will be aimed at furthering our ability to fulfill our customer’s lifting needs.”

An important part of the transaction was that the current LMHE management and employees were retained and that LMHE continue to manufacture quality products in its current location. LMHE founder, Ron Letellier, who will continue with the company commented, “We are very excited to become a part of the Peerless family. We believe this transaction provides exciting opportunities for both our customers and employees as it allows LMHE to leverage the products and resources of the largest chain manufacturer in North America to further address the needs of our customer base.”

About LMHE:

LMHE designs and constructs overhead material handling equipment, alloy chain, hardware, coil and heavy duty lifters, stainless steel chain and fittings, conveyor hooks, and custom lifting equipment. The Company has customers in a broad array of industries including energy, automotive, military, chemical, aerospace, industrial, agricultural, marine, paper and transportation. More information is available at www.lmhe.com.

About Peerless:

Peerless Industrial Group is a manufacturer and distributor of chain, fittings, wire forms, tire chains, wire rope and cordage. The Company is the largest manufacturer and importer of industrial and consumer chain in North America. Peerless sells products under the brands of Peerless Chain Company, ACCO, Jeanette and Weissenfels USA. Peerless Industrial Group - YOUR LINK TO QUALITY, STRENGTH AND SERVICE SINCE 1917. More information is available at www.peerlesschain.com.