Equipment Type

Michigan's Mega Chip and Grinder Manufacturer Acquired

Morbark, LLC, manufacturer of massive grinders and chippers for the forestry, recycling and biomass industries, has been acquired by Stellex Capital Management.

March 22, 2016

Since it began in 1957as the Morbark Debarker Company, Morbark LLC has been a family owned business, based in Winn, Michigan. The company builds equipment for the forestry, recycling, sawmill, biomass, landscaping/irrigation, rental and tree care markets. Their line of flails, disc and drum tree chippers, brush chippers, horizontal and tub grinders, stump grinders process and convert organic materials into valuable, usable and environmentally sound products. In 2012, Morbark acquired the Boxer Equipment line of mini-skid steers.

Lon Morey, Morbark Chief Executive Officer and son of the Founder, said, “Though always difficult to leave a family business, we felt this was the right time with the right Investor who can build on the legacy my father started and I have spent my entire life dedicated to. We are confident that the Stellex group will be able to take Morbark to the next level of excellence and growth. We are excited for the Company and its employees and the future envisioned for them.”

Morbark will continue to operate as it does now. Jim Shoemaker, president, and John Foote, vice president of sales and marketing, will continue in their existing capacities and Dan Ruskin will lead the Morbark team as the new CEO.

 “Our acquisition of Morbark is a great fit for us. Morbark is exactly the type of company we look to invest in – strong history, market presence, products, and an outstanding workforce. We believe the company is well positioned to grow in the coming years, and we are confident that the capital and resources we bring will fuel that growth,” said David Waxman, principal of Stellex.

Source: Morbark

More like this

Comments on: "Michigan's Mega Chip and Grinder Manufacturer Acquired"

Subscribe Today

Enter your email address here to be automatically subscribed to our daily newsletter!

Overlay Init