Calder Capital, LLC is pleased to announce the acquisition of Aaseby Industrial Machining of Wahpeton, North Dakota by a group of private investors led by Lateral Industries Holdings, LLC, based in Baroda, Michigan!
Aaseby Industrial Machining was founded by Vern Aaseby in 1999 and was later purchased by Gremada Industries, Inc. of Fargo, North Dakota.
Aaseby Industrial Machining provides prototyping, multi-axis turning, assembly, repair, and restoration services tailored to the individual needs of each of its customers. The Company services industries such as hydraulic equipment, defense, transportation, agriculture, consumer products, oil and gas, wind energy, and construction equipment.
Aaseby was acquired by Lateral Industries Holdings, LLC and other private investors. Lateral Industries Holdings is owned by Scott Dawson of Granger, Indiana, and his business partners. The business will continue to operate independently as Aaseby Industrial Machining with the current management team leading the business forward.
Dawson noted, “Aaseby is the kind of investment that we are looking to add. They have been well run, with a long history of providing high-quality machined components to their great customers. They have an excellent team in place and tremendous potential for additional growth in the future.”
This is Lateral’s second acquisition in the manufacturing industry. In October 2021, they acquired Midwest Die Corp. of Baroda, MI.
Matt Uhl, Mergers and Acquisitions Advisor at Calder Capital was the lead advisor on the transaction.
“It’s nice to see a resurgence in manufacturing transactions after a couple of years of lower activity within the space. These deals are the bread-and-butter for Calder. I am happy to have assisted Scott in acquiring his second manufacturing company with us,” commented Matt Uhl, M&A Advisor at Calder Capital.
Max Friar, Calder’s Managing Partner, stated, “We continue to expand our reach and marketing across the United States. We are pleased to have our first deal in North Dakota completed and especially with such a nice manufacturing business!”
Calder Capital represented Aaseby Industrial Machining as its exclusive Mergers and Acquisitions Advisory firm.
The terms of the transaction were not disclosed.