Atlanta company acquires West Allis manufacturer
A-C Equipment Services Corp., a West Allis designer and manufacturer of supply parts for the cement, pulp and paper and chemical industries, has been sold to Polysius Corp., an Atlanta-based designer and builder of cement plants.
Polysius is a subsidiary of ThyseenKrupps, a German engineering company that supplies the cement and mining industries.
Grace Matthews Inc., a Milwaukee-based investment banking firm, represented A-C Equipment Services in the transaction. Financial terms of the deal were not disclosed.
A-C Equipment Services, based at 6737 W. Washington St., designs and builds kilns and other components that are an essential part of cement plants, Oleszczuk said, making it a natural add-on for Polysius.
“A big part of their business is servicing new and existing plants,” said Timothy Oleszczuk, managing director of Grace Matthews.
A-C Equipment Services has 40 to 45 employees, Olescscuk said. With the acquisition, all of A-C Equipment’s employees will be retained, and the company’s former owners have become employees.
“If anything, they will add jobs as they grow,” Oleszczuk said.
Florida company completes purchase of Point Beach nuke plant
Wisconsin Energy Corp. announced that its subsidiary, Wisconsin Electric Power Co., doing business as We Energies, has completed the sale of its Point Beach Nuclear Plant to FPL Energy, a subsidiary of FPL Group Inc.
FPL Energy has assumed management and operation of Point Beach from Nuclear Management Company, which has operated the plant for We Energies since 2000.
Juno Beach, Fla.-based FPL Energy purchased the plant, its nuclear fuel and associated inventories for approximately $924 million. The final agreement reflects adjustments at closing and will also result in the release of decommissioning trust investments in excess of $482 million to We Energies. The transaction will result in more than $882 million of proceeds for the benefit of We Energies customers – approximately $57 million more than originally projected.
Point Beach is located near Two Rivers, Wis. The first unit at Point Beach entered into commercial service in 1970 and is licensed to operate until 2030. The second unit was brought on line in 1973 and is licensed to operate until 2033.
The sale includes a long-term agreement under which FPL Energy will sell 100 percent of the electrical output of Point Beach to We Energies through the current license term of each unit at the plant.
FPL Group Inc. operates nuclear plants in Florida, Iowa and New England.
