Germantown-based Blower Application Company Inc. (BloApCo) has been acquired by Nashville-based private equity firm Gen Cap America.
BloApCo was advised on the sale by Milwaukee-based investment bank TKO Miller, which announced the deal.
BloApCo, which was founded in 1933, is a specialty manufacturer of shredders, fans, and other scrap handling and pneumatic conveying equipment. The company designs and manufactures solid waste and scrap handling systems and process equipment. BloApCo’s products include shredding systems, trim handling systems, material handling fans, and conveying systems primarily utilized in the paper, packaging, and corrugated industries.
“Having been BloApCo’s owners for over 30 years, it was very important for my partner, Mike Young, and me to find a buyer that was going to maintain the company’s legacy after we retired,” said John Stanislowski, BloApCo’s president. “We not only feel that Gen Cap will be excellent stewards of what made BloApCo successful for the past 85 years, but they will also partner with existing management and invest in continued growth and development of the business.”
Gen Cap focuses primarily on middle market family-and-founder-owned businesses in the manufacturing, distribution, and basic services sectors. Gen Cap prefers situations where they are able to invest alongside a company’s existing management team as co-owners, and work together with employees and management to continue to grow the business, according to TKO Miller.
“BloApCo’s reputation in its markets and track record of success made it a very attractive Company to an extensive number of potential buyers,” said Tim Oleszczuk, managing director at TKO Miller. “Gen Cap stood out because its vision for the business and its support and relationship with current management lined up particularly well with the sellers’ objectives.”