Equity Firm Buys Marco
ST. CLOUD -- A Minneapolis-based equity investment firm is buying St. Cloud-based Marco.
Marco CEO Jeff Gau tells WJON News that Norwest Equity Partners has bought the company effective today (Friday). He says the sale is exciting news for Marco who will now have the resources to continue its growth strategy through acquisitions and national expansion.
Gau says he will stay on as CEO and all of the employees are being retained. Marco's headquarters will also remain in St. Cloud. Gau says NEP's acquisition will also allow for an expansion at Marco's headquarters next spring and will add jobs to that location.
Marco is an employee-owned company and Gau says the employee stock options will be transitioned into a 401K retirement plan.
Gau says Marco is performing very well and NEP's track record is strong in letting businesses continue with their growth strategy. He calls the move a very good financial transaction for Marco employees and their company.