Troy Industrial Solutions, Watervliet, NY, has agreed to acquire Lane Conveyors and Drives, Brewer, ME. Lane was founded as an industrial distributor of supplies and power transmission equipment servicing the paper manufacturing and woodlands industry, but has expanded over the years to manufacture material handling equipment such as conveyors, hoppers and specialty screw conveyors.

Details of the transaction were not disclosed

Lane Conveyors and Drives has two locations and more than 50 employees. Lane's 2014 revenues were $15 million.

Troy Industrial Solutions, formerly Troy Belting and Supply Company, provides industrial service, repair, supplies and maintenance support in the Northeast.