Cornerstone Business Services: Lamico Inc. has new owner

Transaction handled by Cornerstone Business Services, Inc.

(Green Bay, WI) – Cornerstone Business Services, Inc. is pleased to announce the sale of Lamico, Inc. to Lamico Mobility Products, L.L.C. John Kraus, current General Manager, will continue on in that position and run the day-to-day operations of Lamico. The transaction was handled by Chris Cumicek and Scott Schoeneman of Cornerstone Business Services, Inc.

Lamico, Inc. has been manufacturing crutches in Oshkosh for nearly 50 years. As the largest crutch manufacturer in the world, Lamico has produced and sold 29 million pairs of crutches. Product offerings include multiple sizes of aluminum and wood crutch models, as well as canes, walkers, and various mobility products.

“With the acquisition of Lamico, Inc. and its strong crutch product base, Lamico Mobility Products will add other products, including canes, walker and wheelchair accessories,” said Scott Hoffman, Lamico Mobility Products owner. “The high level of automation at Lamico allows for reasonable labor costs that allow the company to compete globally from right here in Wisconsin, with the added values of fast delivery and higher quality products.”

Lamico Mobility Products also has an extensive plastics facility that is used to produce plastic and polymer accessories that will be used to accept contract injection and blow molding work from local customers.

Cornerstone Business Services, Inc. acted as advisor to Lamico, Inc. by preparing offering materials and contacting potential acquirers, also in evaluating competing indications of interest, structuring the transaction and participating in negotiations.

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Cornerstone Business Services, Inc. is a full service mergers and acquisitions firm selling businesses with values greater than $1 million in the manufacturing, service, distribution and petroleum industries. Cornerstone’s corporate office is located in Green Bay, WI, with regional offices to serve clients throughout the Midwest.

Media Contact:

Scott Stein

Leonard & Finco Public Relations, Inc.

(920) 965-7750

[email protected]