Following the close of the transaction, the management team led by John Pace and Don Fichter will remain on board and will continue to own a significant ownership stake in the company. The investment aims to enable Venturer Technology to continue to grow.
Founded in 1987, the company distrubutes products, services and engineering support and expertise to the energy and process markets. Its portfolio include fluid handling, measurement, analytical, filtration, wireless communications, valves and control products are provided to a wide range of industries such as semiconductor/microelectronics, biotechnology, pharmaceutical, solar, laboratory, fine chemical, power generation, refining, gas distribution, production and transmission, measurement, wireless, analytical systems, water and wastewater, scientific research, industrial and food and beverage.
Venture Technology operates additional offices in Kalamazoo, Holland and Midland, MI, Cincinnati, and Brecksville, OH, Fort Wayne, IN, Lombard, IL, and soon in Tennessee.
The deal was brokered by investment banking firm Adler & Company.