Sold Quick Attach to Hanover Partners and Northstar Capital
Quick Attach, an Alexandria, MN manufacturer and marketer of skid steer attachments, was sold to Hanover Partners, a Portland, OR private equity firm, and Northstar Capital, a U.S. premier junior capital firm based out of Minneapolis. The selling owners also retained equity in the new company. Concurrent with the sale, the buyers agreed to build and finance a state-of-the-art manufacturing facility. Along with the achieving liquidity for the sellers, the sale provided a stronger platform for accelerated growth and OEM alliances. Rice & Assocaties was the full-service M&A advisor to Quick Attach.
Sold Pneumadyne to Bimba
Pneumadyne, of Minneapolis, a manufacturer of pneumatic valves and control systems, was sold to Bimba Manufacturing, Chicago, a fluid power industry leader and ESOP company. Pneumadyne’s products nicely complement and augment Bimba’s product line, and can be readily sold through Bimba’s extensive distribution channels. For the sellers, the strategic sale accomplished founder’s retirement, liquidity, and a handpicked successor. Rice & Associates was the full-service M&A advisor to Pneumadyne.
Anderson Trucking (ATS) purchased Waylon
ATS, St. Cloud, MN, one of the largest carriers in North America, purchased Waylon Transport, an inter-modal transport company located in Alberta. Waylon is nicely positioned near Alberta’s oil fields and is strong in heavy haul, overdimensional. The proactive, strategic acquisition also enhanced opportunities for ATS’s intra Canada and inter North America transportation. Rice & Associates assisted ATS in targeting, contacting, qualifying, and generating sellers interest.