Founded in 1958 by Charles F. Lukens, Stillwater began as a small tool and die company in West Milton, Ohio. After moving to Troy, Ohio in 1961, Bill Lukens joined Stillwater and purchased the company in 1978 from his father. Stillwater currently has approximately 90 full-time employees. Stillwater serves a wide range of customers including Fortune 500 companies to small regional machine shops across the United States.
“The reason that we chose Brixey & Meyer Capital is their methodology and commitment to further investment in building the capacity and capabilities of the business, which will give our valued employees continued opportunities to thrive and grow,” said, Bill Lukens. “Much like we have, it is important to Brixey & Meyer Capital to ensure our employees have a great place to work so they remain committed to providing our customers with the highest level of quality and service. Simply put, they share our values and philosophies of strong work ethic, commitment to our customers and sense of community as we have for so many years.”
Bill Diederich will succeed Bill Lukens as CEO and Michael van Haaren will remain as President & COO.
Stillwater is the second acquisition of BMC’s first fund, the BMC Growth Fund, LLC. The BMC Growth Fund, LLC is an $18.0 million dollar fund launched in November 2015 which invests in lower middle market companies generating $1.0 to $3.0 million of cash flow.
You can access the press release here.