Borgman Capital Acquires Wisconsin-based Rental Company Aerial Work Platforms Inc.
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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.