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 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.