SAS Forks of Luxemburg has become a wholly owned subsidiary of Builtrite Holdings LLC under an agreement with Chicago-based private equity firm TJM Capital Partners, according to a report in the business website Recycling Today. The investment announced Tuesday was effective April 14, the report said.
The company will operate as a wholly owned subsidiary of Builtrite Holdings and will continue to operate from its manufacturing facility in Luxemburg.
Elmer Secker, founder of SAS, will serve as a consultant to the SAS Forks management team. His son Paul Secker will continue to serve as SAS president, and all SAS Forks employees will retain their current roles with the company.
Founded in 1975, SAS Forks of Luxemburg produces “highly engineered and differentiated auto dismantlers and processors, as well as material handling attachments serving the auto salvage, material recycling, scrap processing and quarrying market niches, among others,” according to the report, which continues:
Builtrite Manufacturing, also a wholly owned subsidiary of Builtrite Holdings LLC, based in Two Harbors, Minnesota, is a sister company to SAS Forks. Members of the new SAS Forks-Builtrite Manufacturing alliance plan to work together to provide all customers access to the full suite of products currently offered by each company.
Builtrite designs and produces a range of truck mount and stationary electric material handlers. The company also produces a broad family of attachments for applications on heavy mobile and stationary equipment. The Builtrite brand is used in diverse market niches, including auto salvaging, solid waste processing and material recycling, scrap processing, utilities, railroad maintenance, general and infrastructure construction, pipeline, wood mills and tree services, among others.
Builtrite was founded as Northshore Manufacturing in the late 1970s by John Anderson and two associates. Anderson currently serves as a consultant to Builtrite Manufacturing’s management team. TJM Capital Partners acquired Builtrite Handlers from Northshore Manufacturing in April 2015.
The alliance between SAS Forks and Builtrite Manufacturing will yield significant benefits for all stakeholders, according to the company, including the new entity’s customer base, supply partners and employees. SAS and Builtrite customers will have access to the full suite of complementary products offered by each company.
The company says sales and marketing synergies are anticipated as SAS and Builtrite integrate go-to-market strategies; leverage its seasoned sales and marketing resources; and offer integrated and customized equipment and attachment packages that will increase customers’ productivity, efficiency and profitability.
SAS President Paul Secker and Builtrite President Tom Cavallin will report to Bill Van Sant, executive chairman of Builtrite Holdings’ board of directors. Van Sant has been associated with large public as well as small to mid-sized private manufacturing companies serving the heavy agricultural and construction equipment, and attachments industries during his 40-year career. He also serves as an operating partner with TJM Capital Partners.
“We are extremely pleased to announce the joining of these two iconic brands,” Van Sant said. “Working together, the SAS Forks and Builtrite Handler organizations will offer integrated product and customer service value propositions that will enhance their customers competitive edge in the markets they serve.”
The company added, “The new alliance’s goal is to offer customers highly customized and integrated packages that will yield world-class levels of operator safety, increased levels of productivity, higher operating efficiencies and increased profitability. Customers or suppliers who may have any questions in regards to the new entity should contact the person they normally work with at either SAS Forks or Builtrite. Each associate of the new enterprise looks forward to continuing to deliver superior customer service to its valued customer base.”