Contact: Charlie Goff – 920-731-5777
APPLETON – NEW Capital Fund announced the sale last month of its ownership stake in Ro-Flo Compressors to a group of local investors. NEW Capital purchased the Ro-Flo product line from GE Oil & Gas Division’s Oshkosh facility in December, 2007. Since the purchase by NEW Capital, Ro-Flo Compressors has nearly doubled its sales and expanded into a larger facility in Appleton’s Southwest Industrial park. Terms of the transaction were not announced.
Charlie Goff, general partner of NEW Capital Fund commented, “We have been very pleased with how the employees of Ro-Flo Compressors were able to dramatically increase their market share in both foreign and domestic markets in such as short period of time.” “Ro-Flo’s organic growth allowed us to gain a significant return for our investors,” Goff added.
Brad Schuler, president of Ro-Flo, noted “the recent GE Oil & Gas announcement that they will be closing their Oshkosh compressor assembly facility underscores how important it was for us to gain our independence three years ago.” “Our new investor group plans on maintaining our manufacturing facility in northeast Wisconsin for years to come,” Schuler said.
About NEW Capital Fund: NEW Capital Fund is a northeast Wisconsin-based venture capital firm dedicated to investing in Wisconsin-based early stage manufacturing, life science and information technology companies.
About Ro-Flo Compressors, LLC: Ro Flo-Compressors is the leading supplier of rotary vane compressors to the oil & gas, biogas and industrial markets. Utilizing one of the simplest and most proven designs in the industry, Ro-Flo has decades of service experience with the most challenging gas streams and most difficult locations on the globe.
