Macton Announces New Majority Ownership
Existing Management Team will Remain in Place
Oxford, CT, March 20, 2006 – Macton Corporation announced that Peter G. McGonagle has acquired a majority interest in The Macton Corporation from The Brynavon Group. Brynavon, a Philadelphia-based holding company, had held a majority interest in Macton since 1989. The transaction includes a continuing long-term commitment with the existing Macton management team, and preserves the existing team’s minority equity position in Macton. In addition, Mr. McGonagle has committed to keeping the Macton operation at its present location in Oxford for the foreseeable future.
In joining the Macton management team, Mr. McGonagle brings almost 20 years of diverse financial, legal, and operational experience to complement the strengths of current Macton management. “I was looking to invest in an established and successful manufacturing company where my experience and expertise could be integrated with that of existing management to raise the business to the next level,” said McGonagle. “In that respect Macton represents the perfect fit. I am very excited to be involved with a company that is so well respected and has such a successful track record. The opportunities for future growth are outstanding.”
Serving in the capacity of Senior Vice President, Mr. McGonagle will focus initially on strengthening Macton’s marketing efforts and programs. “This enhanced marketing awareness will enable Macton to improve our service to existing markets while also developing the foundations for Macton’s future growth,” said Macton’s President, David Perkins.
For over 55 years, Macton Corporation has been a worldwide leader in the design and manufacture of large turntables, lifting systems, and engineered-to-order powered structures for the transportation, architectural, industrial, entertainment, and promotional events markets.
For more information contact:
Peter McGonagle
(203) 267-1500
pmcgonagle@macton.com
www.macton.com