Midwest Growth Partners' portfolio company Manitowoc Tool & Machining, LLC (MTM) has completed the acquisition of G&V Machine Company. MTM was acquired in 2022 in partnership with Summit Equity Group, NewSpring Mezzanine and company management.
Based in Ixonia, WI, G&V is a full-service, ISO 9001:2015 certified production CNC machining company. Started in 1946, G&V provides machining needs for the construction, agriculture, off-road, highway trucking, forestry, mining and other OEM industries. G&V produces a wide variety of parts, such as gearboxes, pulleys, axles, manifolds, brackets, housings and other technically complex parts. The company ships products worldwide throughout North and South America and Europe. Chris Griswold, Julie Gottschalk and Sue Griswold will remain on during the transition to ensure a smooth integration.
MTM was established in 1965, has 240 employees and operates 134 machine tools in a 261,000 sq. ft. facility located in Manitowoc, WI.
Rick Swoboda, President of MTM, said, "G&V Machine Company represents a great investment opportunity for MTM. We see many avenues for continued growth, including sharing best practices and industry knowledge. The company has done a great job of delivering quality and innovative products. The management team has rich experience in this industry, and we look forward to working with them on a number of growth initiatives."
"After running a competitive process, MTM emerged as the most credible buyer," said Chris Griswold, former shareholder of G&V Machine Company. "They demonstrated a strong understanding of the industry and recognized G&V's untapped capabilities and ability to grow with its customers. I have been machining parts for decades and now I am excited to watch the continued success of both companies."
For more information contact:
Manitowoc Tool and Manufacturing
4330 Expo Drive
Manitowoc, WI 54220
920-686-8232
www.mantoolmfg.com
G&V Machine Company
N8100 Industrial Dr.
Ixonia, WI 53036
920-206-1480
info@gvmachine.com
www.gvmachine.com