Renaissance Manufacturing Group (RMG), Menomonee Falls, Wis., U.S., announced in late April that it has acquired Pure Power Technologies, Waukesha, Wis., from Navistar Inc. The acquisition marks RMG’s entry into the metalcasting industry.
RMG announced Todd Martin as president and Bobby Carr as vice president of the firm’s new Waukesha division. Carr announced the 200-plus employees would keep their jobs.
“When I look at it, Renaissance translates literally to ‘rebirth’ in French,” he said. “When I think of the rebirth of the 200 employees here—based on the alternative they had—the employment opportunities here in Waukesha … now we start fresh.”
Waukesha County Board Chair Paul Decker said saving those 200-plus jobs will improve the county’s overall tax base, adding “we don’t need more taxes, we just need more taxpayers.”
Martin said he hopes to build upon and strengthen the legacy of the Milwaukee-area metalcasting facility which has been in Waukesha for more than a century.
“We are really looking at this to reinvest with our people, our plant, our processes,” he said. “So this isn’t an equity group that is going to buy it and turn and sell it. What we are really wanting to do is build a long-term legacy around a legacy company.”
Before being sold to RMG, the Waukesha casting facility had transitioned from a captive green sand operation for Navistar Inc. into a hybrid that also handled business from outside OEMs. Financial details for the transaction were not immediately released.