Dallas-based private equity firm Trive Capital has acquired a minority stake in Madison-Kipp Corp, a provider of precision components and sub-assemblies for the automotive, leisure, lawn and garden sectors. Also, MKC President and CEO Tony Koblinski has acquired a controlling stake in the company. No financial terms were disclosed.
MADISON, Wis., June 3, 2015 /PRNewswire/ — Tony Koblinski, President and Chief Executive Officer of Madison-Kipp Corporation (MKC) has purchased a controlling interest in the company, according to Reed Coleman, MKC Chairman and Director. Koblinski will be joined by Trive Capital, a Dallas, Texas-based private equity firm which has purchased the minority Shares.
Koblinski joined MKC in 2011 after a manufacturing operations career with General Motors/Saturn Corporation, Bombardier Inc. and Pulte Homes.
MKC founded in 1898 has been owned and operated by the Coleman family since 1914.
“Tony believes in the management principles and philosophies that have guided the company over the past 100 years,” said Coleman. “His ownership and continued leadership will provide stability, continuity and opportunity for our employees and continued confidence from our customers. I could not be more pleased.”
Madison-Kipp provides precision components and sub-assemblies for the automotive, leisure, and lawn and garden industries. www.madison-kipp.com