St. Louis, Missouri, March 2010
Capital For Business, Inc.® (CFB) announced today that it recently completed the acquisition of West Fargo, North Dakota-based Custom Marketing Co., Inc. (CMC).
Founded in 1986, CMC has become a leader in the grain storage, drying, and handling equipment business for the on-farm grain storage market. The Company offers a multitude of products including storage bins, crop drying and conditioning equipment, and all other accessories. CMC is known for its unique drying system, the Pressure Cure Drying System, which allows farmers to harvest their crops earlier, at higher moistures and to dry any cereal crop right in the storage bins without the need for petroleum based, heating systems.
CFB lead an investor group, in conjunction with the Company’s management, to make the acquisition. In addition to CFB®, the investor group included Diamond State Ventures, Little Rock, Arkansas, and MidStates Capital, Overland Park, Kansas. Terry Wastweet, the Chief Executive Officer, and James Iverson, the President, will continue to run CMC.
Steve Broun, managing partner, CFB, commented “We are pleased to add CMC to our family of portfolio companies and we look forward to working with their management team as they continue to grow the business.”