Private equity firm Peak Capital acquires plumbing/HVAC company

Lancaster-based Peak Capital Inc., a private equity firm, has acquired Penn Pump & Equipment Co. Inc., an end-to-end manufacturer and distributor of plumbing and HVAC pumping products.

Penn Pump, headquartered in Hatfield, provides water pressure booster systems, heat transfer packages, variable speed pumping systems, fuel oil pump sets, boiler feed pumps, condensate pumps, sump pumps, sewage lift stations and other custom pumping packages.

“If you’ve washed your hands at the Empire State Building in New York City, the Cleveland Cavaliers’ Rocket Mortgage Fieldhouse or at 1500 Market St. in Philadelphia, that water reached you because of a Penn Pump,” a release said.

Last year Peak Capital also acquired National Energy Control Corp. in Havertown, a distributor of HVAC/R controls and parts, providing same-day shipping to every state.

Peak Capital previously acquired The Cope Company Salt, with its patented AUTOBrine delivery system. Lancaster-based Cope is a distributor of salt products, including water conditioning, ice melt, solar salt and food grade salt.

“The acquisition of Penn Pump adds another value-added product we can offer to our commercial customers,” said Ronald Myer, president of Peak Capital. “Customers have already expressed excitement about being able to buy from a single source when they need pumps, HVAC/R parts, brine delivery systems and salt. It is not often you can put together three companies that each have over 40 years of experience with great reputations and a strong team of employees.”

Paula Wolf is a freelance writer

Emigsville pharmaceutical facility sells for $2.7M

A pharmaceutical laboratory and manufacturing facility in Emigsville sold for $2.7 million, announced Rock Commercial Real Estate, which represented the seller.

Hercon Pharmaceuticals LLC sold the property, at 101 Sinking Springs Lane, Manchester Township, to CKT Holdings LLC, which was represented by Bennett Williams Commercial.

The 61,250-square-foot building includes a 33,000-square-foot research and development area and a 28,500-square-foot warehouse. The transaction also included furniture, fixtures and equipment.

“Through our broad marketing strategy, we were able to maximize the sale by identifying a buyer who could utilize the features of this specialized pharmaceutical building,” Rock Commercial Brokerage Adviser Kevin Hodge said in a release. “We are happy to see the property bring back, and hopefully expand, high-skilled STEM jobs in York.”

Paula Wolf is a freelance writer

Electric vehicle charging depot to be built next to HIA

A six-port electric vehicle DC fast-charging depot adjacent to Harrisburg International Airport will be built by rental car operator Aero Corp. with equipment and network services supplied by TurnOnGreen Inc.

Aero Corp., a licensed operator of 20 Avis Budget locations across Pennsylvania and New Jersey, plans to complete installation of the chargers in the third quarter of this year. A green energy technology and power supply subsidiary of Las Vegas-based BitNile Holdings Inc., TurnOnGreen will provide three FSP1200 dual port 120kW DC fast chargers that together feature six combined charging system connectors capable of rapidly charging most electric vehicles currently on the road.

The depot will offer charging solutions to Aero Corp. and other local area rental car companies whose customers need to recharge their rental electric vehicles before returning to or departing from the airport.

Drivers can locate the chargers using the TurnOnGreen mobile application and initiate a charging session with the app, QR code or via a credit card reader.

“We are committed to providing engineering and electrification solutions to the car rental industry,” Amos Kohn, TurnOnGreen’s CEO and chief engineer, said in a release. “As the EV charging infrastructure in North America expands, it will be easier and more cost-effective for car rental companies to meet sustainability goals through EV rental programs.”

Paula Wolf is a freelance writer

MXL Industries sold to Ohio-based thermoplastics manufacturer

Lancaster-based MXL Industries, a manufacturer of optical plastic products, has been acquired by Columbus, Ohio-based Plaskolite, a global manufacturer of engineering thermoplastics.

Financial terms were undisclosed. The specialty-crafted optical engineering thermoplastic parts MXL manufactures and coats are for military, motorsport, life safety, medical, aviation and
marine applications. They’re used in mission-critical products such as fighter jet helmets, medical-grade light fixtures and life safety equipment.

Plaskolite is owned by Pritzker Private Capital, the Dunn family and other co-investors, a release said.

Its president and CEO, Ryan Schroeder, said, “MXL’s highly customizable in-house manufacturing capabilities, ability to manufacture high-quality low distortion optical components and niche end market exposure are an exciting complement to Plaskolite’s coatings offering and operational infrastructure. With our combined resources, we will expand our footprint into more specialty end markets, strengthen customer relationships and solidify our leadership position in specialty plastics and coatings.”

Jim Eberle, president and CEO of MXL, added: “For nearly 50 years, MXL has produced highquality, customized specialty plastics and coating solutions for customers across a range of
essential industries. Our partnership with Plaskolite represents an exciting new chapter of growth for our company.”

Paula Wolf is a freelance writer

TransGard welcomes new CEO

Greg Burkholder. PHOTO/PROVIDED

York-based TransGard LLC, a designer and manufacturer of equipment that protects utility substations from animal intrusions, has hired Greg Burkholder as CEO.

Burkholder will oversee operations, sales, product development and other facets of the business. He replaces Bill Reichard, who will become executive chairman of the board.

“After an extensive search, we discovered the ideal candidate to build on our recent success,” Reichard said in a release. “Greg brings to TransGard the ideal blend of leadership experience, operations expertise and long-range vision. We’re excited to have him on board.”

Burkholder most recently served for nearly a decade as CEO at a mid-cap building products company, where he expanded market reach and penetration, oversaw a rebranding effort, and navigated an acquisition and integration that resulted in 100% revenue growth.

TransGard products have been widely adopted, the release noted, and deployed at nearly 4,000 locations.

Lancaster custom food manufacturer to expand facility with $4 million investment

Stir Foods Lancaster manufactures soups, sauces dressings and fresh salsas for retail, industrial and foodservice customers. PHOTO PROVIDED

Custom food manufacturer Stir Foods Lancaster, LLC, is set to expand its Lancaster manufacturing location with an investment of $4 million.

The Lancaster-based manufacturer plans to invest in new machinery and equipment at the facility that will significantly increase production and create a need for a second shift, Gov. Tom Wolf announced today. 

The expansion is expected to retain 51 jobs and create 100, full-time jobs over the next three years. 

Stir Foods Lancaster manufactures soups, sauces dressings and fresh salsas for retail, industrial and foodservice customers. It was formed by Wind Point Partners to acquire the business and assets of Lancaster Fine Foods earlier this year.

Stir Foods’ $4 million expansion will be helped along by a $300,000 Pennsylvania First grant and a $150,000 workforce development grant from the Pennsylvania Department of Community and Economic Development (DCED).

“We plan to invest in Lancaster to grow the facility into one of our ‘flagship’ locations and appreciate the support that the state of Pennsylvania has offered us,” said Milt Liu, CEO of Stir Foods.

“We’re thrilled Stir Foods is investing in Lancaster County and applaud its commitment to the existing workforce, while also setting the stage for strong future growth,” said Lisa Riggs, president, Economic Development Company of Lancaster County. “The combination of Stir Foods and the commonwealth’s investment in machinery and equipment plus workforce training puts the company in the driver’s seat to leverage consumer interest in custom food products.”