Lake Geneva-based Spindustries LLC
has been sold out of the estate of Michael Hohman to a private investment group in southeastern Wisconsin.
Spindustries was founded in 1952 in Lake Geneva and was owned by Hohman beginning in 2000. Hohman, also the president, died unexpectedly in July 2014.
Kevin Fikkert, one of the new owners, has been named president. Ed Ellefson will continue as general manager.
Spindustries has 24 employees. The company manufactures spun metal parts, particularly large, thick and difficult-to-produce metal parts. It has a range of metal forming equipment, including presses, production lathes and heat treating facilities. Its parts range in size from one inch to seven feet in diameter and are made of a variety of metals.
The transaction closed March 31 for an undisclosed price. Milwaukee investment banking firm Emory & Co. advised Spindustries in the sale.
“The company enjoys a reputation for quality and a diversified customer base in a wide range of industrial markets,” said John Emory, Jr., president of Emory & Co.