WAUKESHA - ICAFe,
Inc. has announced the acquisition of a competing company, Dove
Equipment, becoming one of the largest distributors to the
industrial finishing market.
are recognized leaders in industrial finishing systems,” said Jeff
Treske, president of the Waukesha-based ICAFe. “While each
organization has its own strengths, together, we represent a larger,
more financially stable organization with a greater ability to serve
our customers more effectively. In addition, this acquisition will
serve as a catalyst to drive growth and pursue future expansion.”
For more than 60
years, ICAFe has been serving the industrial finishing industry
throughout the central United States, growing in recent years
through organic growth as well as acquisitions.
based in East Peoria, Ill., has been in the industrial finishing
systems industry for more than 40 years. The company was previously
employee-owned. Its primary North American service areas are the
Upper Midwest but Dove also serves nearly all of Mexico, with
offices in Monterrey and Puebla.
was approved by participants of the Dove Employee Stock Ownership
Plan members in July and the deal closed in early August.
Dove will remain
in East Peoria and Mexico. Its various operations will retain the
Dove name. ICAFe will remain in Waukesha.
In 2001, ICAFe
acquired Waukesha-based RPM Industries, which sold finishing
equipment in addition to having an electroplating division. In 2006,
ICAFe acquired O’Donohue industries of Waukesha, expanding its
offerings in parts washing and metal preparation. In 2010, ICAFe
acquired M&M Supply of Green Bay, also a finishing equipment
distributor, according to the company.