21 Mar Gardner Standard Launches Fox Valley Elevator Platform with Asset Acquisition
APPLETON, WI (March 21, 2022) – Wisconsin Elevator Company, LLC d/b/a Fox Valley Elevator, an investment affiliate of family-owned private equity firm Gardner Standard LLC, today acquired the assets of Waupaca Elevator Company, Inc. through a Wisconsin Chapter 128 Receivership process. Fox Valley Elevator will serve the residential elevator, dumbwaiter, access and mobility marketplace with high-quality, innovative products that are coupled with outstanding customer service and technical support.
Fox Valley Elevator will be located in Appleton, Wisconsin and expects to hire many of the former employees of Waupaca Elevator Company, Inc.
“It is exciting to launch a new company and Fox Valley Elevator is well-positioned to become an industry leader,” said Mike Healy, President & CEO of Gardner Standard. “Fox Valley Elevator has the financial, operational and industry resources to move forward as an innovative and reliable manufacturer for our customers and other stakeholders. The Fox Valley Elevator team is committed to managing and building a strong dealer network, manufacturing safe and reliable products, all while making Fox Valley Elevator a terrific place to work.”
Roland Parker, an experienced senior executive and Investment Partner at Gardner Standard, will serve as Interim President of Fox Valley Elevator.
A separate new entity, Badger Elevator Sales & Service, LLC d/b/a Wisconsin Elevator Sales & Service, acquired the assets associated with the Wisconsin dealership business formerly owned by Waupaca Elevator Company, Inc. Leo Lopez will serve as the general manager of this business.
Fox Valley Elevator and Wisconsin Elevator Sales & Service did not assume any of Waupaca Elevator Company, Inc.’s liabilities of any kind or nature, and the new companies are not responsible for warranties or other claims against Waupaca Elevator Company, Inc.
About Gardner Standard LLC
Gardner Standard is a family-owned, private investment firm that invests in small middle-market companies and traces its origin to a Minnesota-based, family-run business founded in 1884. Gardner Standard considers investments in a wide variety of market segments, including manufacturing, aerospace & defense, industrial services, and engineered industrial products. The fundamentals of a business, particularly its growth prospects and competitive position, are Gardner Standard’s focus rather than a specific market segment. In addition to traditional private equity investments, Gardner Standard targets opportunistic investments in high-quality operating businesses with low-quality balance sheets. For more information, please visit www.gardnerstandard.com.