Norwest Equity Partners, a private equity investment firm, has acquired JRB Company as an add-on for its portfolio company Attachment Technologies Incorporated. JRB, a designer, manufacturer and distributor of construction equipment attachments, is the third add-on acquisition for ATI in the last nine months. The other two were Genesis Equipment and CAM. JRB will be consolidated with two of ATI’s existing brands, C&P and Badger. The group will be headquartered at JRB’s existing offices in Akron, Ohio, with manufacturing facilities, in Akron, DeWitt, Iowa, and Chattanooga, Tenn. NEP’s investment thesis upon acquiring ATI in October 2003 was to partner with the company’s management team to increase shareholder value through new product development, add-on acquisitions and new market and operating initiatives.
Norwest Equity Partners acquires third add-on for ATI
Sep 7, 2004