Business & Tech
Oak Creek's Nordco Sold To New York Firm
The railroad-related manufacturer was acquired by a firm focused on the global transportation industry.
Oak Creek-based Nordco Inc. has been acquired by Greenbriar Equity Group, a transportation-focused private equity firm in New York.
Nordco, 245 W. Forest Hill Ave., is a leading provider of railroad-related products and services, including ultrasonic rail flaw detection and mobile railcar movers, according to a news release.
The company's headquarters are in Oak Creek, with other facilities in Missouri, Illinois and Connecticut.
"This transaction marks an important milestone in our company's development," CEO Bruce Boczkiewicz said in a news release. "We are eager to work with our new partner Greenbriar, a firm that has a long history of working collaboratively with management teams to add value to its portfolio companies through their industry knowledge and network of relationships."
Terms of the transaction were not disclosed.
Greenbriar has more than $2 billion of committed capital, with an exclusive focus on global transportation, according to the news release. It has companies in sectors including aerospace and defense, logistics and distribution, freight and passenger transport and automotive.
"We are excited to be partnering with CEO Bruce Boczkiewicz and his executive team and look forward to further accelerating the company's growth trajectory organically and through add-on acquisitions," Greenbriar Director Michael Weiss said in a statement.
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