Bradford Equities acquires majority share of Alkota Cleaning Systems
3/6/2006 | Nathan Schock
Alkota Cleaning Systems announced today that the majority interest in their company was acquired by Bradford Equities, a private equity company located in White Plains, N.Y. Alkota President Gary Scott said that the additional capital from their new partner will allow Alkota to expand facilities, add personnel and increase research and development.
The stock in Alkota purchased by Bradford Equities had been held by Spell Capital of Minneapolis, Minn. for the past seven years. Spell Capital’s investment in Alkota was in a private equity fund that Spell was seeking to close. Bradford Equities completed the purchase on February 14.
Scott said that he and Vice President Joe Bjorkman, who retain their stake in Alkota, appreciate their time with Spell Capital and welcome their new partner. “We will take advantage of their expertise,” Scott said, “but those who deal with Alkota on a regular basis won’t notice a change. Alkota will still be the company that combines old-fashioned values with state-of-the-art technology to create the industry’s finest cleaning systems.”
“What excites us most about this deal is that it will allow us to improve facilities, systems and product and remain a long-term supplier for our customers,” Scott said. “This partnership will keep us aggressive and ahead of the pack, while allowing us to remain a S.D.-based manufacturer.”
Founded in 1964, Alkota Cleaning Systems, Inc. has 102 employees at their facility in Alcester, S.D. They combine old-fashioned values with state-of-the-art technology to create the industry’s finest cleaning systems. Alkota sets the standard for manufacturing pressure washers and works with many of the finest dealers in the cleaning equipment industry.
For more information on this article, please contact Gary Scott at 1-800-255-6823 or email gscott@alkota.com.
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