Mergers & Acquisitions
ETI acquires Eagle company
Electronic Technologies International (ETI), through its Fort Atkinson-based subsidiary American Cable & Harness LLC (ACH), has acquired the assets of CMK Enterprises, Inc. and Calmer Industries LLC of Eagle, Wis.
CMK is a leading supplier for wire processing, custom wire and cable harness assembly, and UL 508A control box design and assembly. The combined company will continue to operate from the current locations in Fort Atkinson and Eagle.
Bill Brink, president of ETI, said, “This acquisition supports our commitment to provide exceptional value of one-stop-manufacturing and speed-to-market. The acquisition provides ETI with greater capacity, increased machine automation, and a stronger market position. CMK Calmer fits well with our existing high-tech services of engineering, prototyping and production for printed circuit board assembly, wire harness/cable assembly, and box build assembly. This acquisition will offer increased resources for our existing customer base, as well as to new customers.”
ETI, along with CMK Calmer, have scalable manufacturing systems that can be optimized and configured to adapt quickly to volume changes that are frequent and common within Original Equipment Manufacturers. The acquisition provides ETI with state-of-the-art, high-speed wire processing equipment, an integral part of meeting customer deliveries.
California company acquires Noah’s Ark Waterpark
Newport Beach, Calif.-based Festival Fun Parks LLC, which does business as Palace Entertainment, announced it has completed its acquisition of Noah’s Ark Waterpark in Wisconsin Dells.
Noah’s Ark is America’s largest water park with 70 acres and 51 water attractions, Noah’s Ark is the region’s most popular family attraction and has two hotels on the property featuring more than 300 rooms.
Fernando Eiroa, Palace Entertainment’s president and CEO, said, “We are very happy to be adding such an iconic water park to Palace’s array of family parks across the nation. We understand how important this park is within the Wisconsin Dells community, and we are dedicated to enhancing the Noah’s Ark brand. We look forward to meeting our new neighbors and community leaders and forging lasting relationships and partnerships.”
Tim Gantz, one of Noah’s Ark’s previous owners, said, “When we considered the sale of the park, we were excited that a company such as Palace, with so much experience in water parks, theme parks, animal parks and family entertainment centers, would come to this area.”
“We look forward to the future success of Noah’s Ark, its employees, and see this as a positive move for the area as a whole,” said former co-owner Dan Gantz.
Financial terms of the transaction were not disclosed.
W.T. Walker Group acquires Tennessee company
W.T. Walker Group, Inc., the Milwaukee-based parent company of Walker Forge Inc. and Precision Thermal Processing, Inc., announced it has acquired PMT Industries LLC of Surgoinsville, Tenn.
PMT is a leading manufacturer of complex, high-alloy steel forgings for safety-critical engine and chassis applications. Established in 1997, PMT employs nearly 250 people.
Willard Walker, chief executive officer of W. T. Walker Group, said, “This is a very strategic acquisition that strengthens both companies. Together, Walker Forge and PMT offer the broadest range of mechanical forging presses among any competitors in North America, ranging in size from 850 tons up to 8000 tons. We are uniquely positioned to offer our customers a wide range of products and product sizes as well as solutions that will enable them to consolidate their supply chains and improve overall performance.”
The companies have complementary forging capabilities. Walker Forge produces forgings on presses from 850 to 4,000 tons, while PMT makes forgings on presses from 4,000 to 8,000 tons. In addition, the companies offer customers a broad range of value-added services that include machining and heat-treating as well as metallurgical analysis and mechanical and chemical testing.
“Our future is very bright. We are grateful to our customers and suppliers for their loyal support, and look forward to the new possibilities the acquisition opens for all of us,” Walker said.
Financial terms of the transaction were not disclosed.
Wipfli acquires Tobin & Associates
Wipfli LLP, a Wauwatosa-based international CPA firm, announced it has acquired Tobin & Associates of New Berlin.
The partners and associates of Tobin & Associates have joined the firm. Tobin is a national cost segregation company that helps clients maximize their depreciation for federal income tax purposes.
“As the economy has presented major challenges to businesses over the past few years, the need to generate tax savings has significantly increased,” stated John Schwab, the partner-in-charge of Wipfli’s construction and real estate industry practice. “For those companies that own real estate or property, cost segregation studies are a great opportunity to recognize savings. Wipfli has provided cost segregation services through experienced in-house resources for the last few years. Through the combination of Tobin & Associates and Wipfli’s existing cost segregation practice, we will deepen our team’s expertise and resources to serve our ever-growing client base.”
Tobin & Associates’ leader Craig Tobin, along with the firm’s associates, will be based out of Wipfli’s Wauwatosa office.
