Builtrite Holdings, LLC acquires Lemco Hydraulics
has acquired Lemco Hydraulics on October 12. Lemco, founded in 1967 by Dean Christensen, has continuously served its long-term and valued customer base for 51 years. Dean's son, Bruce Christensen, assumed ownership of the company in 1982, and will continue to serve as Lemco's President.
Lemco, located in Hill City, Minnesota, designs and produces families of Truck Mount and Stationary Material Handlers, in addition to a full suite of Material Handling Attachments. Lemco products are well-known in a broad array of market niches the company serves including forestry and logging, saw mills, municipalities, utilities, solid waste and material recycling, and mining, among others.
Lemco will join with its sister company, Builtrite Manufacturing, located in Two Harbors, Minnesota, to expand sales by distributing broader families of unique and complementary Material Handlers and Attachments. The combination of the two companies will leverage each company's current channels-to-markets while offering bundles of complementary products to a combined base of discerning and loyal customers.
Bill Van Sant, Executive Chairman, CEO of Builtrite Holdings, LLC, noted that the combination of the two iconic brands will ensure that customers across a broad spectrum of markets will have access to a full suite of complementary and advanced products. Further the new entity will leverage its integrated and long-established channels-to-markets so to ensure both existing and new customers will have an attractive alternative for purchasing advanced material handling products. He believes that the Builtrite Sales Team, working in conjunction with Lemco's President, will rapidly position the Lemco-Builtrite Alliance to be a leader in the markets it serves.
Going forward, Builtrite Manufacturing plans to increase and allocate manufacturing capacity at its Two Harbors factory in order to produce both Lemco and Builtrite products. The increase in manufacturing capacity will fulfill an expected growth in revenues as the new Lemco-Builtrite Alliance gains traction and market share.
Lemco Hydraulics becomes the third member of an Alliance of companies being formed by Builtrite Holdings, LLC. The Alliance, founded in April 2015, now includes three brands and long-standing companies including Builtrite Manufacturing, SAS Forks and Lemco Hydraulics.
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