Simplex, one of Springfield’s largest manufacturing companies,
has been sold to a Canadian-based company for $28 million.
Simplex was founded in 1934 in Burlington, Iowa, by Michael
Debrey, according to the company’s website. A Hungarian immigrant and self-taught
inventor, Debrey introduced multiple innovations to the electrical engineering
field. The company later operated out of East Moline until it relocated to
Springfield in 1951.
Simplex, which designs and manufacturers electrical test systems
and fuel supply systems for the standby power generation industry, operates out
of a 110,000-square-foot facility at 5300 Rising Moon Road, near Wabash Avenue and
Interstate 72. It employs approximately 175 people, ranking behind only BUNN,
Solomon Colors and Standard Aero, according to Springfield Business Journal’s
list of major manufacturers in Sangamon County.
TerraVest Industries Inc. issued a press release regarding the company’s acquisition of Simplex. Representatives did not respond to SBJ’s requests for interviews or comment.
Tom Debrey, the most recent owner and grandson of the company’s
founder, said in the written statement, “The business has been in our family
(since 1934). Our family is most pleased to find a company like TerraVest to
continue the business and grow the legacy of Simplex for many years to come.”
TerraVest is a diversified industrial company
that sells goods and services to a variety of end markets. It is headquartered
in Vegreville, Canada, and has locations throughout Canada, the United States and
Mexico. TerraVest manufacturers home heating products, propane, anhydrous
ammonia and natural gas liquids, transport vehicles and storage vessels, energy
processing equipment and fiberglass storage tanks.
TerraVest is the parent company of Highland Tank, a Pennsylvania-based
company that manufacturers tanks for commercial and industrial customers.
“I am excited to welcome the Simplex team into the TerraVest
family,” said John Jacob, president of Highland Tank. “Simplex is a
well-recognized manufacturer with a leading reputation for product innovation,
and we see this as a strategic fit. Simplex products are highly complementary
with both Highland Tank and the broader portfolio of TerraVest businesses, and
we expect to see immediate benefits.”
The press released noted that the market for Simplex products
has been driven by increasing demand for emergency back-up power generators at
data centers, hospitals and other public utilities. Last year, the company held
what it described as “rapid response interview events,” seeking to hire
additional people for multiple positions. Simplex's website still has a “now
hiring” banner at the top, advertising open positions ranging from an electrical
engineer to warehouse workers to credit and collections accountant.
