Graham Holdings, run by former Washington Post chairman Donald E. Graham, has acquired Joyce/Dayton Corp., an Ohio-based manufacturer of screw jacks and products used in equipment for natural gas fracking and solar energy generation, the company announced Friday.
Joyce/Dayton president Michael Harris and the company’s management team will continue running the business, according to a press release. The purchase price was not disclosed.
“Our acquisition of Joyce/Dayton Corp. is part of Graham Holdings’ ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon,” Graham said in a statement. “Joyce/Dayton is a small acquisition that fits with our decentralized operating philosophy. We are a diverse group of businesses sharing common goals and values but each with its own identity and workplace culture, and with management responsible for its operations.”
Graham Holdings owns Kaplan, Post–Newsweek Stations in Detroit, Houston, Miami, Orland, San Antonio and Jacksonville, Cable ONE, Slate, Foreign Policy, Celtic Healthcare and Forney Corp., a supplier of products and systems for power and industrial boilers.