Green Bay, Wis. – Sept. 20, 2017 – Prop Shaft Supply, Inc., based in Elkhorn, Wisconsin has been acquired by Machine Service, Inc. (MSI), based in Green Bay, Wisconsin. The sale was finalized Aug. 1.
Prop Shaft Supply is a 17-year old firm that engineers and manufactures driveshafts, and related components, serving worldwide industrial and transportation OEMs. The company markets an extensive portfolio of unique products with the reputation for quality and reliable performance.
Machine Service is a 70-year old firm based in Green Bay that manufactures driveshafts, offering high quality components from its 130,000 sq. ft. building. Modernization benefits include computerized inventory management, drive shaft fabricating machines with state-of-the-art controls and new balancing equipment with the finest in technological read-outs that ensure the highest quality.
Prop Shaft Supply will operate as a separate division of MSI. Prop Shaft Supply founder and president, JP Beierle, will continue as head of U.S. OEM, driveline sales.
“The sale of Prop Shaft Supply provides the company with an opportunity to rapidly grow its customer base as part of MSI. We share similar values in how we treat and appreciate employees and serve our customers,” said Beierle.
“We are excited to expand our product offering, which allows MSI to continue to grow its customer base of small to larger OEMs,” said Edward Fowles, president of Machine Service, Inc.
The transaction was supported by M&A consulting firm, Hart Marx Advisors LLC. Terms of the transaction were not disclosed.
About Hart Marx Advisors
Hart Marx Advisors is a consulting firm that assists buyers and sellers in the automotive and heavy duty industries with mergers and acquisitions (M&A), divestitures, along with capital formation for private equity placements. A highly-experienced team of specialists provide buyers and/or sellers with a full range of services, including: M&A strategy, planning, investigation, buyer/seller identification, negotiations, due diligence support and integration. With locations in Folsom and San Rafael, CA; and Jacksonville, FL., Hart Marx Advisors specializes in lower to middle market business transactions with company revenues of $10 to $150 million. For more information on Hart Marx Advisors, visit www.hartmarxadvisors.com.