Blackwell Capital has acquired Elkhorn, Wisconsin-based Advance Fittings Corp, a maker of of stainless steel fittings and components for the bio-pharmaceutical and other process industries. No financial terms were disclosed.
ELKHORN, Wis., October 21, 2021 – Blackwell Capital Group, LLC, has acquired Advance Fittings Corp., an Elkhorn, Wis.-based manufacturer of stainless steel fittings and components for the bio-pharmaceutical and other process industries throughout the U.S.
“Advance Fittings has grown to become the only U.S. company that manufactures a complete line of bio-processing equipment fittings with quality that exceeds industry standards and that exceed customer expectations,” said Steve Balistreri, managing director of Blackwell Capital Group, which is based in Milwaukee.
Advance Fittings founder and president Edward Mentzer will retire, while Chief Operating Officer Pete Mentzer will remain in management and as a company shareholder. Dean Perona, vice president of operations, also will remain in his position and as a shareholder. Other members of the management team also will remain.
The company was founded in 1985 to provide standard and custom fittings for the food and dairy sectors, and later adopted a focus on butt-weld fittings and custom fabrications used in the bio-pharmaceutical industry. Its stainless steel components are now used worldwide by some of the largest manufacturers, distributors and end users in the food/dairy, personal care, pharmaceutical, cannabis/hemp, and semiconductor markets.
“Advance Fittings continuously raises the bar on quality, and thus has developed an excellent reputation among its customers,” Balistreri said. “They are also highly respected by their peers in the process equipment industry.”
Pete Mentzer said the business skills and resources of the new ownership group will allow Advance Fittings to build upon its success.
“The experience and knowledge of our existing staff, combined with the insights and resources of Blackwell Capital Group will create new opportunities for growth of Advance Fittings Corp.,” Pete Mentzer said.
“As our customers innovate and require new components, and as we bring our offerings to other businesses, the resources and expertise of the Blackwell Capital Group will help us maintain highly efficient operations while continuing to exceed customer expectations,” Perona added.
Along with the components it manufactures, Advance Fittings provides welding, laser marking, electropolishing, and packaging services.
“We are very impressed with how the Mentzers and entire Advance Fittings team have built the company, responded to market changes, and maintained its edge as a supplier of choice,” said Joel Nettesheim, CPA, a Blackwell Capital Group managing director.
The company is online at advancefittings.com.
First Federal Bank financed the acquisition and N2 Advantage Law of Brookfield, Wis., provided legal advice. Terms of the transaction were not disclosed.