Blackwell Capital Group has acquired Hartford, Wisconsin-based Stack Equipment, a supplier of refurbished equipment for aerial access and material handling on job sites or at commercial and industrial facilities. No financial terms were disclosed.
Blackwell Capital Group, LLC, of Milwaukee, has acquired Stack Equipment, a Hartford, Wis.-based supplier of refurbished equipment for aerial access and material handling on job sites or at commercial and industrial facilities.
“Stack Equipment is a well-known source for high quality refurbished boom lifts, scissor lifts, personal lifts and other equipment that is essential at construction and building improvement sites, in industrial facilities, and elsewhere,” said Steve Balistreri, managing director of Blackwell Capital Group, which is based in Milwaukee. “The company’s equipment painting services also are highly respected.”
Stack Equipment owner Jim Lenahan, who purchased the company in 2018 through his Keystone Holdings, will remain as a stockholder.
David Osterhaus, who will remain as general manager, said, “We are excited for what the new ownership group brings to our business, which will allow us to grow the business, expand our reach, and provide even more painting and other refurbishing services.”
Other staff members will stay with the organization, as well.
Established in 2008, Stack Equipment is the largest value-added lift dealer in the Midwest, selling a variety of equipment, including lifts that have been completely refinished – down to the paint job and decals. Stack Equipment has a one-of-a-kind indoor paint booth that allows the company to paint lifts and construction equipment of all sizes.
“The Stack Equipment team does an incredible job refurbishing equipment, and working with buyers to finance purchases,” added Joel Nettesheim, CPA, a Blackwell Capital Group managing director. “There is high demand for this type of secondary-market equipment, and Stack Equipment has done an excellent job meeting that demand.”
All the inventory is fully described on the company’s new website, stackequipment.com, including pictures, year of manufacture, engine hours, purchase price, financing options, and more.
First Federal Bank financed the acquisition and N2 Advantage Law of Brookfield, Wis., provided legal advice. Terms of the transaction were not disclosed.
About Blackwell Capital Group
Blackwell Capital Group is a privately held investment firm focused on acquiring majority interest in small businesses with revenues of $5 to $50 million, including businesses that are transitioning from their founders to outside the family and/or whose current owners are looking to accelerate the growth of their businesses through the upgrading of management and an increase of working capital to fund growth. Blackwell Capital Group’s strategy is to hold on to its investments and build value. It is online at blackwellcapitalgroup.com.