For Immediate Release
Fairbank Equipment Acquires Central, Inc. in Evans, CO
Wichita, KS, September 4, 2014 – Fairbank Equipment, a Great Range Capital portfolio company, today announced it had acquired Central, Inc. of Evans, Colorado.
Beginning operations in 1977, Central, Inc. offers a variety of agricultural-related branded products, including Duo-Lift Trailers, Simonsen Dry Handling Equipment, Raven Precision Products, Banjo Liquid Handling Products and more. Fairbank Equipment will retain all existing employees while expanding the breadth of products offered at the location. In addition to products sold into the agricultural end-market, Fairbank Equipment will also begin offering propane-related parts and equipment at the Evans, Colorado location.
“Colorado represents an important avenue for growth for Fairbank Equipment,” said Cody Wray, CEO of Fairbank Equipment. “While we have sold into the Rocky Mountain Region for many years, our acquisition of Central, Inc., along with our recent expansion into Garden City, Kansas, will allow us to further penetrate the region while still offering the top-notch level of service that Fairbank Equipment customers have become accustomed to.”
“Central, Inc. and its Evans, Colorado location represent a strategic expansion point for Fairbank Equipment,” said Paul Maxwell, Managing Partner of Great Range Capital. “We look forward to supporting the Fairbank team as they integrate Central, Inc. into the Fairbank Equipment platform and continue to build upon its reputation as an industry-leader.”
Fairbank Equipment, based in Wichita, Kansas, is the Midwest’s leading distributor of application and control equipment used in the agriculture and energy industries. Founded in 1946, Fairbank has operations in Kansas, Nebraska, Oklahoma, South Dakota and, now, Colorado. Great Range Capital acquired a majority stake in Fairbank Equipment in December 2012.
Great Range Capital, a private equity firm based in greater Kansas City, primarily targets controlling equity investments in Midwestern companies with revenues ranging from $10 to $150 million.