Lake Mills manufacturer
Aztalan Engineering has sold its headquarters complex for $5.1 million in a sale-leaseback deal that will allow the company to pursue acquisitions of other companies.
The two-building, 10-acre campus, located just under an hour west of downtown Milwaukee, includes a 30,000-square-foot building at 100 S. Industrial Drive and a 45,888-square-foot building at 150 S. Industrial Drive.
The complex was purchased by Waukesha-based
Smart Asset Capital, a real estate private equity firm affiliated with Waukesha-based
Smart Asset Realty, according to state property records and a press release from Milwaukee-based
The Barry Co., which facilitated the deal.
Founded in 1978, Aztalan Engineering is a 100% employee-owned ESOP company that specializes in CNC machining, producing components for industries such as medical, aerospace and oil and gas.
The company purchased its two Lake Mills buildings in 2020 for $3.1 million, according to state records.
The sale-leaseback deal allows the company to continue its operations at the facility while utilizing the proceeds for strategic initiatives, including the acquisition of related companies, according to the release.
"This transaction highlights the creative efforts of The Barry Co. -
David Buckley and
Jim Barry - in structuring a mutually beneficial agreement that aligns with the objectives of all parties involved," the release says.
