POPE RIGGING LOFT, INC.
Notice of Sale and Acquisition
Piper Group International, LLC (“PGI”) is pleased to announce the recent sale of Pope Rigging Loft, Inc. (“Pope”) to Mazzella Lifting Technologies, Inc (“Mazzella”).
Due to their immense inventory Pope has become one of the “Go To” rigging companies in the Region with “One Stop” Sales, Parts & Exceptional Service. They have 75 years of success that has resulted in an excellent and proven reputation.
Pope has set a standard of trustworthy, friendly, and dependable of critically needed rigging for Railroad companies, bridge building and many other fields. They even supplied some of the steel cables for the freeway Fremont Bridge that crosses the Willamette River running through Portland, Oregon. This level of service has resulted in having a repeat and loyal customer base. This is a privilege in the rigging business since many rigging buyers only buy on price.
The sellers were not willing to sell to just anyone because above all, the seller required a buyer with integrity and a buyer that would provide a good future for their employees and repeat customers. They had developed a “caring, supportive and empowering” culture with their employees of many years, and it was a goal of the transaction to find a buyer that would carry on the same culture and legacy that had been established. That goal was truly achieved with Mazzella.
The nationwide Mazzella Company and proven team adds value to Pope. Their strong buying power will increase the margins at Pope. Their ability to increase the product offering will help to gain more sales and expand the long-term customer base. This was truly a “win-win” transaction.
It is a rewarding privilege and satisfying engagement to help owners into their next chapter of life and help a buyer acquire a profitable company where the transaction is good for all, the seller, the buyer, the employees, and the loyal customers.
The PGI closing process, “The Roadmap to Closing,” with weekly updates solved the unforeseen issues and kept the transaction’s momentum moving to a successful closing.
The parties on both sides were truly wonderful to work with and we wish them the very best.