ANKENY, Iowa – Albaugh LLC has completed its acquisition of the assets of Prime Source from Excelsior Equity.
“Prime Source has been an exceptional player in the turf and ornamental market, with a remarkable passion for service and providing solutions to their customers,” said Spencer Vance, president of Albaugh North America. “Today marks the beginning of an exciting new chapter for Albaugh LLC, one where we will be able to build upon this legacy by expanding our presence in the T&O market with a focus on tailored customer solutions that improve profitability, flexibility, and are more convenient to use than the leading brands.”
“As a family-owned business with a culture similar to our own, we feel Albaugh is the best choice to take Prime Source to the next level,” said Exum Lewis, founder and chairman of Excelsior Equity. “There is little doubt that this transaction will be smooth for all parties as a result of Albaugh’s strong commitment to the Prime Source brand, the T&O market, and our customers,” said Keith Montgomery, CEO of Excelsior Equity.
Albaugh LLC is a family-owned business that was started 40 years ago. The company’s manufacturing facility is located in St. Joseph, Missouri, allowing for convenient and efficient distribution to our customers nationwide.
