Cummins-Wagner Co., Inc., Acquires Siewert Equipment
Rochester, NY – Siewert Equipment Company, a leading Northeast distributor of pumps, mixers, and fluid process equipment and a recent finalist for the 2008 Rochester Business Ethics Award, has been sold to a Maryland-based distributor of industrial and mechanical equipment, Cummins-Wagner Co., Inc.
Cummins-Wagner serves Maryland, Virginia, Washington DC, Delaware, West Virginia, and Pennsylvania with leading brands of compressors, pumps, and heat transfer equipment. Additionally, Cummins-Wagner is a 100% employee owned company. As an Employee Stock Ownership Plan (ESOP) Company, profits are distributed into company-held retirement accounts for vested employees. ESOP’s are regulated by the Internal Revenue Service and the Department of Labor.
Formerly owned by President and CEO, Mark R. Siewert, son of founder, “Si” Siewert, Siewert Equipment has maintained its corporate headquarters in Rochester since 1949, with branches in Buffalo and Albany, as well as Florida branches in Lakeland and Jacksonville. All branches are part of the acquisition. Mr. Siewert, who serves on the boards of the Mary Cariola Center and the Golisano Children’s Hospital at Strong, will transition to a consulting role with the company. The New York branches will continue as Siewert Equipment, A Division of Cummins-Wagner-Siewert, LLC. The Florida branches will continue as Siewert Classic, A Division of Cummins-Wagner-Siewert, LLC.
The outlook is extremely positive for the 46 employees of Siewert Equipment Company, some of whom have been with the company for 30 years or more, as minimal reorganization is expected. Customers of Siewert Equipment Company can expect the same high level of service, with the same focus on engineered solutions and personalized customer care.
“In deciding to sell the company that my father founded, it was very important to me that the employees, the customers, and the principal suppliers that we represent were all well taken care of. I’ve known the people of Cummins-Wagner for many years, and I am confident that this is a good fit for everyone involved. And I am also pleased that our employees will have the opportunity to take part in ownership through the ESOP,” said Mark Siewert.
“We believe that this will be a great merger that will benefit both Cummins-Wagner and Siewert employees,” said Doug Ardinger, President and CEO of Cummins-Wagner Co. “The Siewert name is respected in our industry, and they have a great team in place. We’re very excited about the opportunities.”
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