Happ Controls Acquired by Pfingsten Partners
This article comes from Highwaygames.com
Happ Controls announced this week that it has been acquired by Deerfield, IL based Pfingsten Partners, L.L.C. Pfingsten Partners plans on supporting future success through a combination of continued organic growth and strategic acquisitions. The company will retain the Happ Controls name and Frank Happ, founder, will remain with the company as Vice Chairman and significant minority shareholder. "I am proud of our past accomplishments of transforming the business from a startup company to a regional wholesaler to a leading international manufacturer and distributor," said Frank Happ. "The continued growth of the business requires additional capital to support future expansion, both internally and through additional acquisitions. I am excited about our future. It has never been brighter."Tom Happ, Vice President of Sales and Marketing, will become the company president, effective immediately. "Pfingsten Partners has a proven track record of successfully building businesses and positioning them for future growth," said Mr Happ, "We look forward to working together and feel confident that their capital and operationally focused, team-based approach will help Happ Controls succeed and grow both within our current markets and internationally." Jim Norton, Managing Director of Pfingsten Partners said that Happ Controls has a strong track record in each of its markets, with its growth driven by product development and customer service. "We intend to capitalise on these strengths to continue the company's history of success," Mr Norton said. "We expect to support the company's growth in the domestic markets it serves and expand its presence into international markets."
Happ Controls is a leading national manufacturer and distributor of parts and accessories for coin-operated amusement games, slot & video gaming machines and vending machines. Happ Controls is best-known for its production and distribution of coin doors, bill validators, monitors, touch screens, power supplies, optical guns, trackballs, push buttons, driving controls and joysticks for amusement games and gaming machines. More recently, it has developed a strong specialisation in product sub-assemblies to provide greater value to both its OEM and end user customers.
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