Keystone Holdings acquires Hartford’s TNT Stack

Land and buildings sold for $1.15 million

Last updated on July 2nd, 2019 at 10:57 am

Hartford-based lift re-manufacturer TNT Stack has been acquired by Keystone Holdings, the parent company of Milwaukee-based Ludman Industries.

Keystone is owned and managed by Jim Lenahan, the chairman, president and chief executive officer of Ludman. The company also owns Northern Machine & Engineering along with developing real estate projects.

Tom Stachurski, the now former owner of TNT Stack, will stay on as general manager. TNT Stack’s name will change to Ketsone Stack LLC and the company will do business as Stack Equipment of Hartford. Stack is one of the largest re-manufacturers of scissor and man lifts in the aftermarket area of the construction industry.

Matt Lenahan, Stack Equipment vice president, said there is a large secondary market for scissor and man lifts. The company refurbishes them in landing yards in Ohio and Hartford.

Jim Lenahan said Keystone plans to grow the Stack business, including potentially adding strategic locations in southern and Midwestern states.

Keystone also bought the TNT Stack land and buildings in Hartford. Terms of the acquisition were not disclosed, but state real estate records show the 7-acre property at 2030 Constitution Ave. sold for nearly $1.15 million. It was assessed at $893,700, according to Dodge County records.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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