Elkhorn, Wisconsin, October 21, 2021 – Blackwell Capital Group, LLC acquired Advance Fittings Corp., a biopharmaceutical and other processing industry stainless steel parts and components manufacturing company located in Elkhorn, Wisconsin business.
"Advance Fittings has developed into the only company that produces a full range of biological processing equipment accessories, the quality of which exceeds industry standards and exceeds customer expectations," said Steve Balistreri, managing director of Blackwell Capital Group, which is headquartered in Milwaukee, USA.
Edward Mentzer, founder and president of Advance Fittings, will retire, while Chief Operating Officer Pete Mentzer will continue to serve as management and company shareholder. Dean Perona, vice president of operations, will also continue to serve as a shareholder. Other members of the management team will also remain in office.
The company was founded in 1985 to provide standard and custom accessories for the food and dairy industry, and later focused on butt welding accessories and custom manufacturing used in the biopharmaceutical industry. Its stainless steel components are now used globally by some of the largest manufacturers, distributors and end users in the food/dairy, personal care, pharmaceutical, hemp/marijuana and semiconductor markets.
“Advance Fittings has continuously improved its quality standards and has therefore won a good reputation among customers,” said Balistreri. "They are also highly respected by their counterparts in the process equipment industry."
Pete Mentzer stated that the business skills and resources of the new ownership group will enable Advance Fittings to build on its success.
"The experience and knowledge of our existing employees, coupled with the insight and resources of Blackwell Capital Group, will create new opportunities for Advance Fittings Corp.'s development," Pete Mentzer said.
"As our customers innovate and require new components, and we bring our products to other businesses, the resources and expertise of Blackwell Capital Group will help us maintain efficient operations while continuing to exceed customer expectations," Perona added.
Along with the components it manufactures, Advance Fittings also provides welding, laser marking, electrolytic polishing and packaging services.
"We are very impressed with how Mentzers and the entire Advance Fittings team built the company, responded to market changes, and maintained their advantage as a preferred supplier," said Joel Nettesheim, Managing Director and CPA of Blackwell Capital Group.
The company's website is Advancefits.com.
The First Commonwealth Bank provided funding for the acquisition, and N2 Advantage Law of Brookfield, Wisconsin provided legal advice. The terms of the transaction were not disclosed.
Blackwell Capital Group is a private investment company focused on acquiring majority stakes in small businesses with revenues between US$5 and US$50 million, including the transition from founders to non-family businesses and/or businesses whose current owners wish to accelerate growth Their business finances growth by upgrading management and increasing working capital. The strategy of Blackwell Capital Group is to insist on investing and creating value.
For questions or assistance, please contact: Colin Schmies [email protected] or 608-206-0476