BDO Capital Advises Speedrack Products Group, Ltd. on the sale to a newly formed ESOP

Atlanta, GA – April 28, 2023 – BDO Capital Advisors, LLC (BDO Capital) is pleased to announce the sale of Speedrack Products Group, Ltd. (Speedrack or the Company) to an Employee Stock Ownership Plan. BDO Capital served as exclusive financial advisor to Speedrack on this transaction, which builds on BDO Capital’s experience working with family-owned businesses in the manufacturing sector.

Founded in 1954 and headquartered in Quincy, MI, Speedrack has been at the forefront of the material handling industry for more than 65 years. Speedrack manufactures material handling systems and equipment that help maximize a customer’s use of space and contribute to effective warehouse logistics solutions. In addition to a manufacturing capacity of over 165M lbs. per year, they have an in-house engineering and design team that provides custom solutions for their customers. Speedrack has now grown to three locations, including Walker, MI; Quincy, MI; and Litchfield, MI, as well as approximately 260 employees. 

Speedrack Products Group logo

BDO Capital guided the company and the selling shareholder throughout the entire process with care. They went through the various options of how we might structure the transaction and got us comfortable with the go-forward strategy. In addition, the assistance they provided to the bank group who financed the transaction was invaluable. Our team is thankful for BDO Capital and are looking forward to our future as an ESOP-owned company.

Eric Quist
President of Speedrack Products Group, Ltd.