Milwaukee-based private equity fund Generation Growth Capital, Inc., has sold Quality Assembly & Logistics, LLC to the company’s president and chief executive officer, Guy Meyerhofer.
The sale was announced today, but terms of the transaction were not disclosed.
QAL, based in Marinette, provides value-added contract manufacturing services and repair and refurbishment services of electromechanical parts for large original equipment manufacturers specializing in medical equipment and fire suppression.
GGC invested in the company in June 2009. In May 2011, GGC worked with QAL to secure an add-on acquisition through the purchase of the continuousu passive motion line of rehabilitation equipment from German health care company Otto Bock.
Meyerhofer, now president and owner of QAL, said GGC was “a great partner” that supported the company in strategically thinking about growth opportunities and ways to better run the business.
“QAL has been a very successful investment for GGC,” said Cory Nettles, managing director of GGC. “We wish Mr. Meyerhofer continued success in growing the company.”