Brookfield-based OwnersEdge Inc. has acquired Greenville-based QComp Technologies Inc.
[caption id="attachment_349973" align="alignright" width="394"] A robotic system developed by QComp Technologies. (PHOTO: QComp Technologies)[/caption]
QComp, located in the Fox Valley, is a robotic systems integrator. It has about 35 employees. The company develops robotic packaging systems, material handling systems and automation line integration for the glass, solar, consumer products, food, pharmaceutical, plastics, paper and metals industries. Its clients are spread across the U.S. and Canada.
OwnersEdge is an employee stock ownership plan holding company that was established in 2015. It also owns BAYCOM Inc., CC&N and Tour Guide Solutions, all of which are 100 percent employee-owned. OwnersEdge has a total of 300 employees.
Lisa Reardon, president, chief executive officer and chairman of OwnersEdge, is now CEO of QComp. Tom Doyle, who founded QComp in 1990, has been passing his daily management duties along to John Schwan, vice president of sales and marketing, and Greg Whitney, vice president of engineering and manufacturing. OwnersEdge will also establish an advisory board at QComp and share its strategic planning strategies. The QComp employees will be added to the ESOP and OwnersEdge will take on its back office tasks.
Taureau Group advised OwnersEdge in the transaction.
“QComp has been on a solid growth trajectory and we anticipate an acceleration as more companies implement robotic automation as a solution to the workforce shortage,” Reardon said. “With its national scope and the range of industries it serves, QComp brings revenue diversity to the OwnersEdge portfolio of businesses.”
[caption id="attachment_330187" align="alignright" width="112"] Reardon[/caption]
“Over the years, I’ve been approached by numerous companies interested in buying QComp. I was attracted to OwnersEdge because an (ESOP) rewards my employees and invests in their future,” Doyle said. “I also liked the fact that OwnersEdge is based in the Midwest and exhibited values that I appreciate – honesty, transparency and a commitment to its employee owners.”
OwnersEdge has been gradually building its portfolio of ESOP companies and selling off others to diversify the group.
“We currently have four companies in our portfolio. Our ultimate goal is to have eight businesses,” Reardon said. “We’re interested in companies that are poised for growth, have a healthy culture and are run by leaders who see the value in an ESOP model.”