Indiana Companies Announce MergerPosted: Updated:
Carmel-based Capital Industries has completed an acquisition. The company says the merger with Shelbyville-based Selco Engineering was sparked by a recent increase in the use of automation systems. November 4, 2014
SHELBYVILLE, Ind. - Capital Industries, a premier engineering, fabrication and special machine building company located in Central Indiana, has merged Selco Engineering into the company as a natural fit to expand the services and resources for both companies' customers. Selco Engineering was co-founded in 1995 by Kent Colclazier, who continued to manage and grow the business, including being honored as one of Indiana's top 100 fastest growing companies (the Indiana Growth 100 Award) 6 years in a row. Selco's focus has always been on designing and building electrical and mechanical automation systems, including the integration of robots and other advanced automation techniques. Selco has engineered automation systems for a diverse range of assembly and material handling applications. With more than 20 employees, a solid reputation, and a long list of satisfied customers, Selco needed more manufacturing space and additional management resources, both of which Capital Industries had available.
Selco Engineering and Capital Industries have been manufacturing partners for several years, so the decision to merge was an easy one once the needs of each company were assessed. Capital Industries, which originally operated under the name of Banks Machine & Engineering, was founded in 2000, and has also seen significant growth and success. In 2012, co-owner Joe McKinley was instrumental in moving the company from Edinburg, IN to Shelbyville, IN into a much larger 50,000 sq. ft. purpose-built facility, with room to expand as needed. This location, adjacent to a major interstate is ideal for working with manufacturing and industrial businesses throughout the Midwest, as well as a large part of the country, including the entire east coast.
Capital Industries' primary focus had originally been on design and engineering, fabrication services, machining, welding, assembly, and some custom machine building. However, in recent years, the company, which had grown to more than 20 employees, has been developing an increasing number of comprehensive, turnkey automation systems. Thus, the need was growing for more engineering resources with advanced robotics and programming knowledge and experience.
Capital Industries' manufacturing partner, Selco Engineering, had that exact experience and those resources to offer. Colclazier, who is remaining in the merged business, described the situation as, "A win-win merger of two strong and growing companies. An ideal arrangement."
Selco is now operating under the Capital Industries name. Each companies' respective customers are seeing only positive changes. All employees, including the leadership teams of both companies, are being retained and this is not expected to change.
Steve Halfaker, Capital Industries' General Manager stated, "The merged company is still focused on smart, meaningful growth and we are in the process of hiring additional employees now. There is a demand among our current customers, as well as in the broader industry, for a turnkey automation solution provider. We can now do everything required for these types of systems under one roof. That is a unique arrangement that is very hard to find and it offers many benefits to our customers, from improved cost-efficiency and faster production timelines, to ultimately more innovative and effective automation systems. It is an exciting time for everyone involved."
The merger has been completed and finalized as of November 1, 2014.
Source: Capital Industries