Universal Mfg. Co. purchases MLE
29 November 2010
Specialty aerial platform manufacturer Man & Material Lift Engineering LLC has been purchased by Universal Mfg. Co., a Nebraska-based remanufacturer or ReTech-branded automotive products. Purchasing price was not disclosed.
Under the new agreement, all MLE assets have been acquired by a newly formed wholly owned subsidiary of UMC, Man Lift Mfg. Co.
"This was not an easy decision for me because I have nurtured MLE from a small start-up to a successful, growing and exciting business," said Jeff Bailey, MLE president. "This transition will, however, provide us the ability to continue to grow and be of greater service to our valued customers."
Bailey will remain as president and chief executive officer of Man Lift Mfg. Co. and all employees will also stay. The newly formed Man Lift Mfg. Co.'s headquarters will remain in Wisconsin, where MLE was based.
"With leadership positions in growing specialty lift markets, Man Lift Mfg. Co. extends Universal Mfg. Cos' footprint in attractive niche markets," said Robert Scott, chairman of the board of Universal Mg. Co. "We look forward to welcoming Man & Material Lift Engineering LLC's employees, including its strong management team, to Universals' organization."
