Kapco acquires Polaris metal stamping operations in Osceola; Wipfli acquires Illinois company
Kapco acquires Polaris metal stamping operations in Osceola
Grafton-based Kapco Inc. has acquired the metal stamping assets of Polaris Industries Inc.’s operations in Osceola, Wis.
Earlier this year, Polaris announced that it would close the Osceola plant to consolidate its operations, eliminating 515 jobs in the northwestern Wisconsin community.
After he heard the Polaris announcement, Kapco president Jim Kacmarcik decided to make an offer to acquire the Polaris metal stamping assets, consisting primarily of equipment, said Neil Willenson, vice president of community relations for Kapco.
The deal with Polaris includes an arrangement that Kapco will become a tier-one supplier for Polaris, supplying parts for all terrain vehicles, snowmobiles and motorcycles, Willenson said.
Kapco plans to lease 60,000 square feet of space in Polaris’ Osceola facility and will hire at least 50 to 60 employees for the metal stamping operations there, he said.
“As our business grows, we are hopeful we can hire even more people in the Osceola area,” Willenson said.
Many of those employees will likely be current Polaris employees, but the positions will be open to other applicants, as well. Kapco plans to have its Osceola operations up and running by March 1.
Kapco also plans to add another 30 employees to its 260-employee workforce in Grafton, Willenson said.
“Some of Polaris work will end up (in Grafton),” he said. “This is a very significant expansion of our business.”
Kacmarcik said the purchase of the Polaris metal stamping assets and equipment, “fits to a ‘T’ with the core strengths of Kapco and will provide future growth opportunities for our company. We are glad this purchase agreement has worked out and that we’re able to enter into a long-term agreement to supply Polaris with the parts that Kapco will manufacture at the Osceola facility. This is a significant growth opportunity for Kapco and allows us to further establish our company as a strong supplier in a new world marketplace. Polaris is a quality brand recognized worldwide for excellence, and we look forward to providing them with high-quality metal work and bringing Kapco’s values and community service efforts to the Osceola area. By creating these jobs, and keeping them in Wisconsin, we can make a positive contribution to the local economy and provide a boost to the job market. At the same time, Kapco will be strengthening its overall position and establishing a framework for future growth. We look forward to exploring any other opportunities to expand our relationship with Polaris, and we’re pleased to continue growing in Wisconsin by making further investments in our state.”
“We are pleased to confirm the sale of Polaris Industries’ steel stamping assets to Kapco, a strong company that will seamlessly integrate into our operations as a supplier,” said Bennett Morgan, president and chief operating officer of Polaris. “It was very important to Polaris to maintain as much job continuity and security as possible and Kapco is committed to Osceola and the State of Wisconsin.”
Wipfli acquires Illinois company
Wipfli LLP, a Milwaukee-based accounting and consulting firm has acquired Blascoe & Associates of Rockford, Ill.
“We are excited that Blascoe & Associates has joined Wipfli,” said Rick Dreher, Wipfli’s managing partner. “Both of our firms are committed to providing top-quality services to businesses of all sizes, so we look forward to working together and further strengthening relationships and our firm’s presence in the state of Illinois. This also provides us an opportunity to leverage the significant resources in our Wisconsin and Minnesota locations to compliment our outstanding Illinois team as we serve our clients at a high level.”
Blascoe & Associates was established in 2000 and specializes in providing accounting and tax services to small- and medium-sized businesses in a variety of industries throughout Illinois. All of Blascoe & Associates’ five employees, including partner, Kim Blascoe, will join Wipfli’s Rockford office.
The combined firm will have more than 950 associates, including 133 partners and 21 office locations.
