Milwaukee-based investment banking firm Emory & Co. has sold a majority interest in West Bend-based Discount Ramps LLC to Washington, D.C.-based private equity firm Rotunda Capital Partners.
Discount Ramps operates discountramps.com, a website that sells more than 11,000 ramp, loading and transport products. The company has grown significantly, and invested nearly $900,000 in expanding its facility in 2011 with the help of a $50,000 loan from the Wisconsin Economic Development Corp.
“After conducting a thorough confidential auction process, Rotunda emerged as the ideal partner for Discount Ramps, given (its) successful track record with internet retail, catalog and distribution businesses,” said John Emory Jr., president of Emory & Co.
Larry Marmon, Rotunda’s operating executive, has been named chief executive officer of Discount Ramps. Bob Krolski will stay on as chief operating officer.
“We believe that Discount Ramps has a terrific management team, an extraordinary growth trajectory and a tremendous opportunity to expand its platform,” said Corey Whisner, a partner at Rotunda. “We believe the addition of Larry Marmon to the management team will be a catalyst to further accelerate Discount Ramps’ growth.”
Joel Lederhause, the company’s founder, will serve on the board of directors. He will retain a significant ownership stake and provide strategic consulting.
“Partnering with Rotunda strongly positions us to continue executing our expansion plan,” Lederhause said.