August 25, 2010 – Swisher Acquisition, Inc. (“SAI”) an affiliate of Blackstreet Capital, a Chevy Chase, MD, private equity firm, announced today that it has purchased the assets of Swisher Mower & Machine Company, Inc.
“We are impressed by Blackstreet’s commitment to excellence and are confident this transition will occur with minimal disruption,” said Swisher’s CEO, Wayne Swisher. “Together, we plan to build on the company’s storied history in ways that benefit employees, customers and suppliers as well as our community.”
“We are very excited to be working with the talented and dedicated team that has made the Swisher family of products amongst the very best in their industry; this is an exciting addition to our portfolio,” said Aldus H. Chapin II, Managing Director of Blackstreet Capital, and Chairman of SAI.
SAI manufactures a variety of lawn and garden power equipment including zero-turn riding mowers, ATV mowers, log splitters and high wheel string trimmer mowers and a wide range of lawn tractor and ATV attachments. Swisher is the leading brand name in ATV accessories and maintains a prominent position in the lawn and garden equipment industry. SAI will distribute products to over 2000 outlets worldwide from its Warrensburg facility.
As the proud manufacturer of the Swisher branded products, SAI intends to continue as an employer in the community by maintaining its headquarters and primary manufacturing facility in Warrensburg.
About Blackstreet Capital
Blackstreet Capital (www.blackstreetcapital.com) is a Chevy Chase, MD based private equity firm with over $200 million of capital under management. Blackstreet focuses on control buyouts of companies that are either underperforming, in out-of-favor industries, or are undergoing some form of transition. Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services, and health care.
About Swisher Mower And Machine Company, Inc.
Swisher Mower and Machine, founded in 1945 and based in Warrensburg, MO produces specialty lawn and garden equipment and ATV/UTV accessories ranging from tillers to mowers and lawn vacs to its patented QuickSwitchTM hitch for ATV/UTVs.
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