Cedar Rapids, Iowa News, Sports, and Weather
MONTICELLO, Iowa - Energy Manufacturing of Monticello, a designer and manufacturer of custom welded hydraulic cylinders for the fluid power industry, has been purchased by an Alabama company.
Ligon Industries of Birmingham, Ala., founded in 1999, owns 13 other manufacturing companies, 7 of which are in the fluid power industry. Terms of the transaction were not disclosed.
Energy Manufacturing, founded in 1944, employs 167 and has more than 115,000 square feet of manufacturing space in Monticello. The company's main customers are North American and Latin American original equipment manufacturers producing a wide range of equipment and machinery.
Ken Rosenbecker, vice president of sales and marketing at Energy Manufacturing, said the company is pleased and excited to be acquired by Ligon Industries.
"Ligon has a wealth of experience in the fluid power industry and is well positioned to provide Energy with guidance and support," Rosenbecker said. "Ligon also has a long-term business perspective, and a history of appropriate and timely investment within its companies.
"This change will increase our competitiveness, as well as our responsiveness and service to our customers.
"We do not anticipate any major customer or supplier-related changes as a result of this transaction," Rosenbecker said. "Ligon has a long track record of a very de-centralized management style regarding the companies it holds.
"To our customers and suppliers, this change will be virtually transparent."