Ronin-backed Engenuity Acquires Woodmaxx
March 20, 2024
Ronin Equity Partners financed the acquisition of Akron, New York-based Woodmaxx by Engenuity Outdoor Equipment (formerly DK2) with a $25 million term-loan facility. The deal adds roughly $20 million of annual revenue and approximately $5 million in synergies, brings domestic manufacturing and power take-off product capability into Engenuity, and Woodmaxx owners (including founder Kurt Schie) are reinvesting a substantial portion of proceeds into a double-digit minority stake.
- Buyers
- Engenuity Outdoor Equipment, Ronin Equity Partners
- Targets
- Woodmaxx
- Sellers
- Kurt Schie and other Woodmaxx owners
- Platforms
- Engenuity Outdoor Equipment
- Industry
- Manufacturing
- Location
- New York, United States
- Transaction Type
- Addon
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