New Berlin-based tooling manufacturer Stanek Tool has been acquired by Milwaukee private investment firm Jacsten Holdings LLC and the company’s senior management team for an undisclosed price. The transaction closed April 22.
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Among Stanek Tool's specialties are injection molds.[/caption]
Jacsten holds a majority ownership in the company. The senior managers who are now minority owners are: Doug Brockelman, vice president of manufacturing; Paul Bartkowiak, vice president of workholding; Rosemary Bartkowiak, chief financial and human resources officer; and Scott Hanneman, divisional manager for fixtures.
Stanek Tool, which has 38 employees, makes workholding fixtures, precision machined parts and custom injection molds. It was founded by Edward Stanek in 1924 and remained a family company until now. Mary Stanek Wehrheim, the third-generation owner, has exited the business.
“The future of Stanek Tool is the dedicated employees who have successfully served our customers,” Stanek Wehrheim said in a statement. “Our employees and customers deserve a partner that believes in the values of family ownership, share a passion for manufacturing innovative solutions, and are committed to sustained growth over the long-term. The families of the Jacsten group embrace these beliefs and have proven results. I trust in the future success of Stanek Tool.”
All of Stanek Tool’s employees will remain with the company in the transaction, said Stephen Hansen, a principal with Jacsten. This is the firm’s sixth portfolio company, and it invests long-term with a buy and hold strategy.
Jacsten has appointed a new president, Peter Nelson, to replace Stanek Wehrheim. Nelson is currently serving as president and chief executive officer of another Jacsten portfolio company, Hartford-based CDM Tool & Manufacturing LLC. He has several years of experience in manufacturing operations and technical sales, and previously served as vice president of operations and chief operating officer at HB Performance Systems Inc. in Mequon.
“We are proud to be part of the Stanek Tool team and look forward to building on the successful legacy entrusted to us by the Stanek family,” Hansen said. “At our other businesses, we have a track record of continuing to invest in people and equipment and growing the businesses.”