Precision Pulley & Idler has announced an agreement to acquire Continental Global Material Handling, a portfolio company of Stellex Capital Management. 

Continental, based in Winfield, Alabama, has been a leader in bulk material handling for decades. Precision Pulley & Idler is an industry leader in conveying components, with over a million square feet of manufacturing space and 25 global facilities. Continental Global Material Handling is a manufacturer of many key conveyor components and material handling systems. Stellex Capital is a private equity firm with offices in New York, Detroit, Pittsburgh, and London. 

The transaction is expected to close in the coming days.