New owners for family-owned business
ALBANY, NY — A family-owned company will continue under new owners who are injecting capital and modernizing business practices, with the goal of doubling or tripling sales in five years, according to the Albany Business Review.
The company, ATSCO, consists of three product lines: Cleaning and janitorial equipment and supplies; fire and water restoration supplies; and theater equipment, such as lights, curtains and sound systems, the article stated.
According to the article, since the new majority owners, Danny Wheeler and Dave Thompson, closed on the purchase July 1, ATSCO has doubled its staff to eight people, among other changes.
Wheeler and Thompson bought the company from three members of the McGrath family, who put the business up for sale four years ago, the article noted.
"It was a hard deal to put together because in a time of recession it was hard to satisfy the family needs and the banking and finance demands in trying to sell a business," Dick McGrath said.
Click here to read the article in its entirety.
Share This Article
Join Our Newsletter
February 21, 2023