Following acquisitions, York-area firm forms holding company

The Conrad Co. is the name of a new holding company unveiled this year by Penn-Air & Hydraulics Corp., a growing manufacturing services company based in Springettsbury Township, York County.

The holding company encompasses PennAir, a company acquired by PennAir in 2019 and three other companies acquired since then, according to Seth Bray, the CEO of PennAir and also CEO of The Conrad Co.

The brands represented by The Conrad Co. provide a range of manufacturing services (photo/submitted)
  • The name of the holding company comes from the founders of PennAir, Jim and Mary Conrad, Bray said in a phone interview. The Conrads started the company in 1968.
  • The idea for the holding company is to allow the company’s individual brands to stand out more clearly, Bray said.
  • “It’s really just about having specific brands that focus on specific segments within the industry that we can grow,” he said.

What brands: There is the original company, PennAir, as well as the acquired companies.

  • The 2019 acquisition was of a company called Advanced Lubrication Systems, which now operates as GreasePoint Engineered Lubrication.
  • The more-recent additions are Hanover-based Hanover Conveying Systems; Westminster, Maryland-based Compressor Maintenance Co.; and Hellam-based Allied Hydraulic Service Co
  • The holding company overall employs 110 people and did more than $45 million in revenue last year, an increase of roughly 50%, Bray said, adding that similar growth is expected this year.

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