TerraSource Global Announces the Acquisition of Peninsula Iron Works

TerraSource Global, a leading provider of solutions for natural resource recycling, material handling, product classification, and liquid/solid separation under renowned brands such as Gundlach Crushers, Jeffrey Rader, Pennsylvania Crusher, and Elgin Separation Solutions, has finalized the acquisition of Peninsula Iron Works (PIW) effective May 31, 2024. PIW specializes in refurbishing, rebuilding, and manufacturing parts for capital equipment and large assemblies across various industries including mining, metal products/fabrication, steel recycling/making, building products, and industrial equipment. Their services encompass new builds based on in-house or customer designs, value-added refurbishments, maintenance and repair, as well as contracted services for manufacturing large and complex components.

Kevin Hambrice, CEO at TerraSource Global, expressed enthusiasm about the acquisition, stating, “Peninsula Iron Works has a long-standing reputation for delivering high-quality, US-based manufacturing services that complement TerraSource Global’s industrial processing equipment offerings. PIW’s expertise in heavy fabrication, machine build, and rebuild work for various industries including steel mills, aggregate processing operations, sheet mills, lumber mills, aluminum plants, and scrap yards, positions them uniquely in the market. With one of the largest machining part envelopes, PIW offers innovative solutions that set them apart. We are eager to collaborate with PIW’s management team to integrate our areas of expertise and enhance our aftermarket offerings for the aggregates, mining, and forest products sectors.”

James Johnson, President of Peninsula Iron Works, emphasized the synergy between TerraSource Global’s top-tier material handling equipment and PIW’s proficiency in designing, building, and refurbishing large, complex equipment. Johnson stated, “There is a natural fit between TerraSource Global’s proven, high-quality equipment and PIW’s capabilities. We are excited to join forces with TerraSource Global and work together to serve customers globally.”

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