Borgman Capital has acquired Aerial Work Platforms Inc. (AWP) from former owner and President Pat Barney. Founded in 1979, AWP is a Wisconsin-based company specializing in renting, selling, and servicing aerial lift equipment with a strong reputation for providing high quality equipment and outstanding customer service.
David Bartelme, managing director at Borgman Capital, commented, “Pat Barney built AWP through exceeding his customers’ expectations and creating a great place to work. We’re very excited to be a part of the future of AWP and continue Pat’s great work.”
Barney commented, “I am very grateful to have completed the sale of Aerial Work Platforms with Borgman Capital. My thanks, appreciation, respect and love go to God and Sue Barney, all present and former coworkers, those who have passed, especially Dan Brown, and all our terrific and loyal customers. Others who have helped on this 41-year journey are Randy Truckenbrodt, Rich Mueller, Terry Mather, Rusty Peterson, Mike Pepke and David Bartelme.
"Thank you all. I am very excited for the future of AWP with our current staff, new additions, and guidance from Borgman Capital. I know the company will continue to grow and be a great place to work. To our customers current and future, we will remain committed to superior customer service and value.'”
Associated Bank provided senior financing, while Milwaukee-based Reinhart Boerner Van Deuren s.c. served as legal counsel. Accounting diligence and advisory services for the transaction were performed by Baker Tilly.