Generation Growth buys stake in Peshtigo manufacturer
Generation Growth Capital, a Milwaukee-based private equity firm, has become a minority investor in Quality Assembly & Logistics LLC, a Peshtigo manufacturer of electromagnetic components.
Quality Assembly & Logistics was formed with the purchase of the assembly and logistics division of DeCrane Aerospace Inc. DeCrane’s existing operations will continue in Peshtigo.
Guy Meyerhofer, former vice president of finance and adminstation with DeCrane, has become the majority owner and president of Quality Assembly & Logistics.
Financial terms of the acquisition were not disclosed.
“We are very excited about this opportunity to partner with an experienced manager and a solid team of people to drive growth at Quality Assembly & Logistics,” said John Reinke, director of Generation Growth Capital. “The transaction came together very quickly due to the support of Decrane Aerospace and their desire to see Quality Assembly & Logistics positioned for future success. We look forward to having them as a customer going forward.”
Quality Assembly & Logistics has about 30 employees.
Meyerhofer will soon hire a vice president and director of sales and marketing, Reinke said. As sales continue, the firm will hire additional workers.
“They have a good solid base of customers and are staffed to support their existing business,” Reinke said. “As they bring on new customers, they will need to ramp up (staffing). The aim was to have the business capitalized right, and we put money into support their growth going forward.”
Quality Assembly & Logistics is Generation Growth Capital’s third portfolio investment. Its other investments are in Menomonee Falls-based Choice Construction Companies Inc., and in Green Bay-based Martell Construction Inc.