Fort Wayne Companies Acquired
FORT WAYNE - A pair of Fort Wayne-based companies is under new ownership. Phoenix-based Alpine 4 Technologies Ltd. has acquired Morris Sheet Metal Corp. and its sister company JTD Spiral Inc. The acquisitions are the first for Alpine 4's construction services holdings portfolio.
Morris Sheet Metal and JTD Spiral provide a variety of services largely for the food manufacturing industry, such as design, fabrication and installation of dust collectors, commercial ductwork and kitchen hoods. Alpine 4 is not disclosing financial details of the acquisitions, however New York-based commercial finance company Advanced Energy Capital says it provided $1.75 million to help fund the closing of the deal.
"We’re excited about adding Morris Sheet Metal and JT Spiral to the Alpine 4 family," said Kent Wilson, chief executive officer of Alpine 4. "The addition of these companies will immediately impact Q1 earnings. Both Morris Sheet Metal and JT Spiral are expected to have significant roles as a Stabilizers in the Alpine 4 umbrella of companies."
The company did not state whether any jobs would be affected by the acquisitions.