Equity Partner Seeks Buyer For Harper Brush Works
By order of the U.S. Bankruptcy Court in the Southern District of Iowa, Harper Brush Works has retained Equity Partners CRB to seek a joint venture or equity partner for, or to sell the land, buildings, equipment, and business of the brush, broom, and mop manufacturer in Fairfield, Iowa.
Harper Brush Works currently employs approximately 65 full-time employees. The manufacturing is conducted in two buildings in Fairfield, Iowa. Plant 1 is 27,000 sq. ft. and houses the woodworking and mop manufacturing activities, as well as the main corporate offices. Plant 2, located a few miles away from Plant 1 in a small industrial park, is a 54,000 sq. ft. building used primarily for brush production and warehouse space.
Fred Cross, a Managing Director at Equity Partners CRB, says, “This is an excellent opportunity to partner with, invest in, or acquire an established manufacturing company with a deep history. There is a significant opportunity to expand on and grow multiple revenue streams by expanding current product lines and broadening the company’s current distribution channels.”