HydroHoist acquires full ownership of Rotek
CLAREMORE, Okla. – HydroHoist International, Inc. has acquired full ownership of Rotational Technologies, Inc. (Rotek), HydroHoist President and Chief Executive Officer Mick Webber said in a release over the weekend.
HydroHoist, a privately held multi-million dollar business with 100 plus employees and a global market for the hydro-pneumatic boatlifts it manufactures, previously owned 50 percent of Rotek in a partnership.
Don Roberts, formerly HydroHoist vice president of operations, was promoted to president and chief operating officer of Rotek, said Webber. Roberts has been with HydroHoist in various leadership positions for 16 years.
Rotek, located near Claremore at Verdigris, Okla., annually molds some 3 million pounds of polyethylene into a variety of products. The company’s current facility houses four roto-molding machines capable of molding product 14 to 30 feet in length. At the height of the manufacturing season, Rotek employs some 40 people running three shifts, according to Webber.
“With the purchase of Rotek, HydroHoist is truly a vertically integrated business,” said Webber, “and we have better control of the production and quality of our product. We see this acquisition as a synergistic and strategic fit as we continue to grow both companies.”
“We have been in a solid 50-50 partnership with Rotek as the supplier of PE components for our boatlifts for many years. About 75 percent of Rotek’s revenue has been from molding products for HydroHoist products such as control houses, tanks, HydroPort-2s (our line of personal watercraft), manifolds and walkways. Rotek also does contract work for other companies and will continue to do so.”
- For more of the latest news, click here.
