Mathews Company

What Mathews Company does

Mathews Company is a family-owned, private manufacturer of grain drying and material handling equipment headquartered in a single facility in Crystal Lake, Illinois, founded in 1954 by B.C. 'Matt' Mathews. The company designs and builds a portfolio of six grain dryer lines — Delta Series and Fusion Series mixed-flow dryers, Legacy Series and ECO Series low-profile dryers, and Modular Tower and Commercial Tower Series — supported by its proprietary Pinnacle 20|20 dual-touchscreen PLC control platform, the MC Trax remote monitoring application, the exclusive AccuDry moisture-based control system via partnership with Dryer Master, and in-house controls technologies including SmartFlow tapered duct design, TruDry discharge control, and vacuum cooling. Since 2022 the company has extended beyond dryers into adjacent material handling with grain distributors, bucket elevators (capacities up to 13,000+ bushels per hour), and drag conveyors (2024), positioning itself as a full grain-site equipment supplier.

The business operates on a hardware-sales revenue model with multi-year equipment financing support ($0 down options) and aftermarket parts revenue via the 24/7 Parts Depot, with no direct-to-customer sales. Mathews distributes exclusively through a tiered authorized dealer network (Tier I/II/III) covering the United States, Canada, and select international markets, with a dedicated International Sales Manager. The customer base spans on-farm operations and large commercial grain facilities, served by named Tier I dealers such as Kuhl Grain Systems, Chester Inc., Lodermeier's, Wall Grain Handling Systems, and Gateway Building Systems. The company's go-to-market relies on agricultural trade shows, dealer recruitment, and a digital dealer portal rather than direct consumer marketing, and its 70+ year heritage, founder patents, and 'Iron Horse Quality' positioning form the core brand equity.

Name

Mathews Company

Legal name

Mathews Company

Website

https://mathewscompany.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

51–100 employees

Short description

Mathews Company is a family-owned manufacturer of grain drying and material handling equipment, serving farmers and commercial grain operations across North America and select international markets through an exclusive tiered authorized dealer network.

Ownership category

akta.pro rank

Product category

Agricultural Equipment Manufacturing

NAICS

Farm Machinery and Equipment Manufacturing (333111), Agricultural Implement Manufacturing (33311)

SIC

Farm Machinery & Equipment (3523), Special Industry Machinery (No Metalworking Machinery) (3550)

akta.pro primary industry

Drying & Dehydration Equipment (Grain Dryers, Fruit/Vegetable Dryers) (AFAAAJAB)

akta.pro secondary industries

Tower/Column Grain Dryers (AFAOAKAF), Bulk Handling & Conveying for Processing Lines (Augers, Elevators, Conveyors) (AFAAAJAJ), Farm Material Handling & Attachments (Loaders/Implements) (IMAHACAI)

Keywords

• Grain drying equipment
• Material handling equipment
• Agricultural machinery
• Bucket elevators
• Grain conveyors

Headquarters

HQ city

Crystal Lake

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Grain Dryer Sales: Primary revenue stream from manufacturing and selling commercial and farm-scale grain dryers including Delta Series, Fusion Series, Legacy Series, ECO Series, Modular Tower Series, and Commercial Tower Series.
2. Material Handling Equipment: Sales of bucket elevators, distributors, conveyors, and related grain site handling equipment to complement dryer product lines.
3. Controls & Monitoring Systems: Sales of Pinnacle 20|20 control systems, MC Trax remote monitoring subscriptions, and related automation technology.
4. Parts & Aftermarket: Replacement parts sales through 24/7 Parts Depot online ordering system for dealers.
5. Equipment Financing: Financing programs offered to customers with $0 down payment options.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Mathews Company designs, manufactures, and sells grain drying equipment and material handling systems for agricultural operations. Its product portfolio includes continuous-mix and modular tower grain dryers, automated control systems, bucket elevators, distributors, and conveyors. Equipment is distributed primarily through an authorized dealer network serving commercial grain handlers and on-farm operations.

Product overview

Mathews Company (MC) is a grain site equipment manufacturer offering a comprehensive portfolio of grain drying and material handling products. The core product line consists of six grain dryer series: Delta Series and Fusion Series (mixed-flow technology), Legacy Series and ECO Series (low-profile/expandable), and Modular Tower and Commercial Tower Series. Supporting the dryers are control and monitoring systems including Pinnacle 20|20 (touchscreen PLC-based control platform) and MC Trax (remote monitoring). The company has expanded into material handling with bucket elevators, distributors, and drag conveyors. Additional automation features include AccuDry (moisture-based control) and TruDry (automatic discharge control). The portfolio is unified under the 'Iron Horse Quality' brand philosophy, serving farmers through a dealer network.

Differentiator

Problem solved

Functional benefit

Brands

• Iron Horse Quality: Company motto and quality standard inspired by founder's admiration for locomotive trains, symbolizing strength, endurance and reliability in all MC equipment

Products and services

• Delta Series Grain Dryers
• Fusion Series Grain Dryers
• Legacy Series Grain Dryers
• ECO Series Grain Dryers
• Modular Tower Grain Dryers
• Commercial Tower Grain Dryers
• Pinnacle 20|20 Control System
• MC Trax Control System
• Bucket Elevators
• Distributors
• Grain Conveyors

Quantifiable outcome

• Grain dryers with zero screens to clean in Delta Series
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature8 records

Partnerships

Twelve partnerships are on record, tiered supporting and core.

• Amazon Web Services (AWS)supportingTechnology or Integration · 1 January 2024AWS provides cloud hosting infrastructure for MC Trax remote monitoring platform. 2024 overhaul of MC Trax leveraged AWS for faster performance, higher uptime, and enhanced data security.
• Propane Education & Research Council (PERC)supportingStrategic or Co-development Partner · 1 January 2017Collaborative development partnership for Next Generation Legacy Series. PERC contributed funding and expertise to apply proven tower and ECO Series technology to a 'profile' style dryer. Project delivered vacuum-cool efficiency, improved airflow, and reliable capacities while expanding propane's role in on-farm grain drying.
• Dryer MastercoreTechnology or Integration · 1 January 2012Exclusive partnership bringing AccuDry moisture-based drying control system into MC product line. Powered by Dryer Master's real-time moisture monitoring technology. Embedded DM510 solution seamlessly integrated into MC's Pinnacle and Pinnacle Lite control systems. Automatically adjusts dryer discharge rate based on incoming and discharged grain moisture for precise, uniform results.
• Kuhl Grain SystemscoreChannel Partner/ Reseller/ DistributorTier I authorized dealer based in Davenport, IA. Long-standing dealer relationship. Dealer testimonial emphasizes product longevity (30-year-old machines still supported) and exceptional parts availability.
• Chester, Inc.coreChannel Partner/ Reseller/ DistributorAuthorized MC dealer in North Judson, IN. Dealers emphasize MC's family-owned business values and proud partnership spanning multiple years.
• Perth Dryer & Leg SystemscoreChannel Partner/ Reseller/ DistributorTier II authorized dealer in Dublin, Ontario, Canada. Dealer highlights product knowledge depth and excellent service season support from MC.
• Wall Grain Handling SystemscoreChannel Partner/ Reseller/ DistributorAuthorized dealer in Winnipeg, Manitoba, Canada. Dealer emphasizes exceptional backup and support from MC, critical for equipment facing tough harvest conditions.
• Gateway Building SystemscoreChannel Partner/ Reseller/ DistributorAuthorized dealer in West Fargo, ND. Dealer values collaborative partnership, noting MC's openness to suggestions and dealer input.
• Custom AG (CA Industries)coreChannel Partner/ Reseller/ DistributorTier I authorized dealer. Listed among top-tier MC dealers representing the most qualified and experienced dealers.
• Freeborn Pride BuilderscoreChannel Partner/ Reseller/ DistributorTier I authorized dealer. Among highest-qualification dealers regularly achieving top sales and attending factory training.
• Lodermeier'scoreChannel Partner/ Reseller/ DistributorTier I authorized dealer. One of MC's most qualified dealers representing the company in the agricultural community.
• Digman ConstructioncoreChannel Partner/ Reseller/ DistributorTier I authorized dealer. Among MC's top dealers providing sales, installation, and service for MC products.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Brock Grain Systems: CTB Inc. subsidiary producing grain bins, dryers, and material handling equipment. Directly competes with MC across on-farm and commercial grain drying and handling categories in North America.
• Grain Handler USA: Manufacturer of grain dryers, material handling, and storage products serving North American farms. Direct competitor in portable and stationary grain drying equipment with overlapping product positioning.
• NECO (New Enterprise Concept): Nebraska-based manufacturer of mixed-flow grain dryers and aeration equipment. Direct competitor in mixed-flow drying technology, overlapping significantly with MC's Delta and Fusion series.
• Sukup Manufacturing Co. Iowa-based family-owned manufacturer of grain dryers, bins, material handling, and steel buildings. Direct competitor in the same North American grain drying and handling categories with similar channel-partner go-to-market.
• Shivvers Manufacturing: Iowa-based manufacturer of grain drying systems, including in-bin and continuous flow dryers. Direct competitor focused on the on-farm grain drying category that MC serves with its ECO and Legacy series.
• GSI (Grain Storage & Handling International): AGCO-owned manufacturer of grain storage and drying systems with global reach. Closest scaled competitor in tower and mixed-flow grain dryers, with a broader product portfolio and deeper R&D resources than MC.
• Delux Mfg. Co. Manufacturer of continuous flow grain dryers and material handling equipment. Direct competitor in the low-profile and continuous flow dryer categories competing head-to-head with MC's Legacy and ECO series.

Others

• Dryer Master: Moisture-based drying control technology provider and MC's exclusive AccuDry partner. Adjacent enabler whose technology is embedded in MC's Pinnacle control systems, but also supplies other dryer OEMs.

Emerging players

• AgraTronix: Manufacturer of moisture testers and agricultural monitoring electronics. Partial overlap with MC through moisture-sensing and remote monitoring adjacencies (related to MC Trax and AccuDry ecosystems).

Broad incumbents

• AGCO Corporation: Global agriculture equipment conglomerate owning GSI grain systems and major tractor/combine brands. Broad incumbent whose grain systems division directly competes with MC, with substantially greater scale and global distribution.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MathewsCompany
• Facebookfacebook.com/mathewscompany

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mathews Company