Prop Shaft Supply Inc., based in Elkhorn, Wisconsin, has been acquired by Machine Service, Inc. (MSI), based in Green Bay, Wisconsin. The sale was finalized on Aug. 1.
Prop Shaft Supply is a 17-year old company that engineers and manufactures driveshafts and related components, serving worldwide industrial and transportation OEMs. The company markets an extensive portfolio of unique products with the reputation for quality and reliable performance.
Machine Service is a 70-year old firm based in Green Bay that manufactures driveshafts, offering high-quality components from its 130,000-square-foot building.
Prop Shaft Supply will operate as a separate division of MSI. JP Beierle, Prop Shaft Supply founder and president, will continue as head of U.S. OEM, driveline sales.
“The sale of Prop Shaft Supply provides the company with an opportunity to rapidly grow its customer base as part of MSI. We share similar values in how we treat and appreciate employees and serve our customers,” said Beierle.
“We are excited to expand our product offering, which allows MSI to continue to grow its customer base of small to larger OEMs,” said Edward Fowles, president of Machine Service, Inc.
The transaction was supported by M&A consulting firm Hart Marx Advisors LLC. Terms of the transaction were not disclosed.
