Winsted Corp. Acquired by Private Equity Firm Pathfinder Companies
The company says its operations will remain unchanged as they work to continuing providing the highest level of quality consoles and customer service.
MINNEAPOLIS — Winsted Corp. has been acquired by Pathfinder Companies, a privately held investment and advisory firm, for undisclosed terms. The transaction was finalized Oct. 31, according to a press release.
Established 1963, Winsted is a global provider of control room console solutions. Owned and operated by the Hoska family since its inception, the company has worked to create attractive, ergonomic control room consoles and command centers that improve operator comfort and optimize efficiency, the announcement states.
“Our philosophy aligned with Pathfinder’s so well, that it confirmed this was the right decision for Winsted to move forward as a company,” says Steve Hoska, former Winsted owner. “We trust the Pathfinder team to support the best long-term interest of the company.”
Jack Cardwell will serve as the company’s new CEO. Previously, Cardwell served at 3M for 27 years, most recently in the role of vice president of marketing and sales operations.
Randy Smith will continue as president of the company. Smith and Cardwell will be part of the new ownership group and will work closely together to lead the company’s executive team.
“Thanks to the Hoska family’s tremendous leadership and the team of committed employees, Winsted is a proud leader in the control room industry,” Smith says. “We are excited for what this next chapter will bring and pledge to continue to build and support the Hoska family legacy.”
Based here, Winsted operations will remain unchanged as they continue to provide the highest level of quality consoles and customer service, the announcement states.
“We would like to express our thanks to Steve Hoska and his family,” says Jack Helms, partner, Pathfinder Companies. “The commitment and efforts of the Winsted team enabled the company to become a market leader and now represent what we believe to be an exciting opportunity for us.”
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