FT. MILL, S.C. – Mertz Mfg., a newly formed subsidiary of Compact Power, a North Carolina corporation, has announced the acquisition of substantially all the assets of Mertz, an Oklahoma-based manufacturing and metal working corporation. The operations of Mertz will continue at its Ponca City location and all active employees will be retained. Steve Ballinger has agreed to remain President.
“The operations of Mertz have been expanding and our workforce has been increasing.” Ballinger says. “This new association brings a unique opportunity to combine the manufacturing strengths of Mertz with the marketing strengths of Compact Power.”
The acquisition provides domestic manufacturing capacity for CPI’s proprietary brands of compact utility equipment. Specializing in compact utility loaders, skid steer loaders, mini-excavators, attachments and specialty trailers, CPI has become a national provider of compact, labor-saving products up to 5,000 lbs and 50 hp.
Formed in late 2003 to gain leadership in the compact utility niche, CPI acquired certain assets of PowerHouse Equipment of Fort Mill, SC and distribution and manufacturing rights from The Jaden Group of Companies, headquartered in Brisbane Australia in December of 2003.
Mertz’s wide range of products includes compact utility loaders and attachments, agricultural vehicles and precision parts for large mining and construction equipment. Roger Braswell, Compact Power CEO, said that he expects the existing Mertz team to remain in place and continue to serve its current customers while taking on the manufacturing of additional CPI products in coming years. Much of the current and future manufacturing that will be added will shift from Australia, although some will shift from other U.S. locations.
CPI, which holds exclusive distribution rights to the PowerHouse, Kanga and Boxer brands of compact equipment, has seen 2004 product sales and production more than double over 2003 levels. CPI’s products service a broad spectrum of industries including landscape contracting, general construction, irrigation, utilities and rental. The PowerHouse brand is currently placed in over 600 Home Depot Tool Rental Centers nationwide where the products are available for rental and sale. The Kanga and Boxer brands are distributed through a network of over 70 independent dealer locations. These brands can also be found in certain RentX, NationsRent, United Rental, TruServ and Ace Rental Place locations.
“This transaction, along with last December’s asset purchase from PowerHouse, positions us to continue our rapid growth and to better serve our customers with shorter lead times and greater involvement in the engineering and manufacturing process,” says Braswell. “We are pleased and honored to have the opportunity to continue the work that Forrest Mertz has so faithfully carried out over the years and to be able to bring new jobs and opportunities to Ponca City and the state of Oklahoma.”