Interstate Companies, Inc., a growing industrial conglomerate headquartered in Minneapolis, Minnesota, purchased the assets of Southwest Products (SWP) (Surprise, Arizona). Financial details of the purchase were not released by the privately held companies.
The deal represents important strategic growth for Interstate Companies, adding over 90 new employees. It also solidly establishes Interstate’s presence in the Southwestern United States, and continues our growth in the final-stage manufacturing business.
“Southwest Products is an outstanding fit for our company. You don’t often find companies that are this well aligned in culture and outlook.” said Travis Penrod, Interstate CEO. “SWP has some amazing employees and we are glad to add them to our team. We know them by their excellent reputation, and also from direct experience. We have been a customer of theirs for years, and we’re excited to have them be a part of our group of companies,” Penrod said.
“The shareholders and management of Yaculta Companies are very proud of the accomplishments of the SWP commercial truck business”, said Tim Price, Yaculta CEO. “However, we are even more excited about the future of SWP under the stewardship of Interstate Companies. We are confident they are the right people, with the right values, to take SWP to the next level and beyond.”
NTEA Member Directory listing for Southwest Products
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