The takeover is expected to be completed by May 16, and the management of Commonwealth, which will be renamed Jennmar, will remain intact, the company said.
“Commonwealth Bolt strategically fits very well with Jennmar’s long-term commitment to the ground support market in the United States," Jennmar officials said.
“The integration processes will be easily completed because both companies are family owned, and share the same views on customer service.
“Jennmar is proud to offer Commonwealth’s current customer base our full line of specialty products including resin and our engineering capabilities."
The details of the purchase are undisclosed, but a spokesperson for Jennmar told International Longwall News that Commonwealth's Rich Creek, Virginia office will remain open and will be known as the company's Virginia East plant.
Also part of the company's plans post-acquisition is production expansion. Currently, Jennmar operates 11 manufacturing plants, 10 for ground control product development and one for steel service.
Five of Jennmar's manufacturing branches are in Australia, one is located in China and its newest is under construction in Canada.
“Jennmar will continue to grow, and its focus will never leave the customer," the company said in a statement.
“Jennmar will strive to make underground mining safer and more productive in every market they serve."
Added president Frank Calandra Jr: “On behalf of all of Jennmar, I would like to welcome Commonwealth into the family.”