Business partners Carl Hamersma and Dean Birschbach have purchased Kenosha business Lakeside Steel & Mfg. Co. from Dennis Kehoe.
The transaction closed Nov. 17 for an undisclosed price. Lakeside Steel & Mfg. Co. – Acquisition received approval for a $1.4 million SBA-backed loan in November, according to SBA records. Hamersma confirmed the loan partially funded the acquisition.
Lakeside Steel, which has 18 employees, fabricates sheet metal for the power distribution, power supply and structural industry. It operates out of a 75,000-square-foot facility in Kenosha. The new owners don’t plan to make any immediate changes to the business, Hamersma said.
Kehoe owned Lakeside Steel for 44 years. Part of the reason Hamersma and Birschbach acquired it was because of the synergies with Hamersma’s other business, Fond du Lac-based CH Welding Inc., and Birschbach’s other business, Fond du Lac-based Agromatic Inc., he said.
“(We purchased Lakeside for) mainly the opportunity it presented and to also enhance my other business’ capabilities,” Hamersma said.