Milwaukee-based private equity company Borgman Capital has acquired Aerial Work Platforms Inc., a Wisconsin-based rental company, from former owner and president Pat Barney. Founded in 1979, AWP specializes in renting, selling and servicing aerial lift equipment, with a local reputation for providing quality equipment and outstanding customer service.
“Pat Barney built AWP through exceeding his customers’ expectations and creating a great place to work,” said David Bartelme, managing director, Borgman Capital. “We’re very excited to be a part of the future of AWP and continue Pat’s great work.”
“I am very grateful to have completed the sale of Aerial Work Platforms with Borgman Capital,” said Barney. “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!’”
AWP has branches in Sussex (in the Milwaukee area); Janesville (Madison area); and Neenah, Wis.
Associated Bank provided senior financing. 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.
