Charlotte REIT acquires Marshall Erdman
Marshall Erdman and Associates (Erdman), a Madison-based firm that plans, designs and builds health care facilities, has been acquired by Cogdell Spencer Inc., a Charlotte, N.C., real estate investment trust (REIT).
The transaction is valued at $247 million and is expected to close in late February. Erdman will operate as a subsidiary of Cogdell Spencer. The combined company will operate nationwide with offices in Atlanta, Charlotte, Charleston, S.C., Columbia, S.C., Dallas, Denver, Madison, Seattle and Washington, D.C. Madison will remain the headquarters for Erdman. Charlotte will remain the corporate headquarters for Cogdell Spencer Inc.
Baird Capital Partners, Lubar & Co. and Erdman senior management acquired the firm in 2004. Under the sale to Cogdell Spencer, Baird Lubar & Co. and management received an $85 million equity rollover.
Plymouth tool and die shop acquired
Diverse Tooling, a Plymouth, tool and die company, was recently acquiured by NSP Inc., also based in Plymouth. The transaction was brokered by Cornerstone Business Services Inc.’s Milwaukee office.
Diverse Tooling is well known in the metal stamping, plastic extrusion, and tool and die industries for its problem solving capabilities and prompt service. NSP Inc said it plans to continue the level of quality and services that Diverse Tooling customers have become accustomed.
