Recent News
Advance Equipment Company Acquired
Advance Equipment Company, located in Olympia, Washington, develops and manufactures downstream machinery (belling machines, saws, pullers and bundlers) for the PVC pipe industry. The company was founded by Richard E. Hoverter in 1978. The President, Dick Hoverter, will remain with AEC after the sale. AEC was acquired by Plastics Extrusion Machinery, Inc. of McPherson, Kansas, a manufacturer of plastics extrusion machinery and related equipment similar to AEC’s product line, but focused on larger diameter pipe. The combined companies will be able to offer the industry a full breadth of highly-engineered production machinery.
Experience Oregon Acquired
One of the largest charter and tour coach companies in Oregon, Experience Oregon, has been sold to one of the largest West Coast charter coach companies, MTR Western of Seattle, Washington. Experience Oregon provides tours and charters through the Western U.S. from their Eugene, Oregon facilities which will be merged into MTR’s Eugene facilities. The company was founded and owned by Bud and Marian Kloster. MTR Western is owned by Seattle Hospitality Group, a holding company of Howard S. Wright III.
Smithco Manufacturing Acquired
Smithco Manufacturing, an OEM supplier, was founded in 1990 to provide specialized air circulation propeller fans for lumber drying kilns and drying sheds. The Company was founded by William Smith, the inventor of adjustable pitch blades and had been owned by Tracy Smith for nearly 20 years. Their propeller fans are sold to the forest products industry around the world and dominate sales in North America. The buyer is the extended Garske family that owns Travis Pattern in Spokane, Washington, the company that provides Smithco with fan castings. The management team remains in place.
McTavish Shortbread Sold
McTavish Shortbread, one of the largest and most popular shortbread manufacturers in America has been sold. The local Portland company, which was founded over 20 years ago, has grown significantly and now ships nationally to major stores such as Whole Foods. Denise and Bill Pratt, the founders who built the reputation of the McTavish brand over the years, wanted to accomplish their retirement strategy which they were able to achieve in their sale to Peter and Karen Wood. The Woods plan to continue expanding the markets that the company sells into.