APPLETON, January 14, 2008 – Appleton-based NEW Capital Fund, LP has purchased the Ro-Flo® Compressors product line from GE Oil & Gas, LLC along with the management team of Brad Schuler and Brad Thurn.
Ro-Flo® positive displacement compressors are designed to deliver low cost, low maintenance performance advantages in dirty or corrosive gas applications, and can meet the most demanding specifications.
“We’re excited about the opportunities this product line offers for the future,” said Charlie Goff, President of NEW Capital Fund. “The New North is home to some of the best manufacturing in the country, and this acquisition will help grow this vital segment of the regional economy.”
Schuler and Thurn plan to keep production of the compressors at the local manufacturing center in Appleton, and plan to increase sales by expanding the markets that the Ro-Flo® compressors can serve.
Cornerstone Business Services, Inc. also helped facilitate the deal as one of the team’s strategic advisors during the acquisition process. Cornerstone has offices in Green Bay, Madison, Milwaukee and Detroit, Michigan, and serves clients throughout the Midwest.
NEW Capital Fund, LP is an Appleton-based private equity fund with nearly $10 million of committed capital and 76 limited partners. The Fund is interested in engaging qualified entrepreneurs who are developing promising, high-growth Wisconsin businesses, predominantly in the life sciences, information technology, agriculture, and manufacturing sectors.
New North, Inc. is a regional collaboration effort focused on promoting regional cooperation and economic development in an 18-county region in Northeast Wisconsin. The 18 counties included in the New North are Outagamie, Winnebago, Calumet, Waupaca, Brown, Shawano, Oconto, Marinette, Door, Kewaunee, Sheboygan, Manitowoc, Fond du Lac, Green Lake, Marquette, Florence, Menominee, and Waushara. To find out more information about New North, Inc., please visit our website at www.thenewnorth.com.