Tri-Tec Industries, a precision machine shop with a 19-year history in Charlotte, NC has officially been sold to new owners through Viking Mergers & Acquisitions, a middle market business brokerage firm. Tri-Tec was formerly owned by Ray Motley, Mike Davidson and Rick Loyd, all of whom founded the business in 1997 and have since grown it to become a leading precision shop in the Carolinas.
The sale was facilitated by Trevor Crocker, Peter T. Keretsis and Brad Offerdahl, all with Viking Mergers & Acquisitions. Tri-Tec drew an exceptional amount of interest among potential buyers, with nearly 75 inquiries and 4 full price offers within the first two weeks of listing the business. “This business generated great interest,” says Peter T. Keretsis of Viking Mergers. “With strong financials and a good product, I knew we’d find a buyer quickly,” he continues.
Ultimately, Tri-Tec Industries was purchased by ZP Enterprises, LLC, a private equity firm owned by father-son team, Steve and Brent Zelnak. “We could not be more thrilled with the buyers of our business,” says Ray Motley, former owner of Tri-Tec. “The expansion plan laid out by ZP Enterprises is something we are extremely proud to be a part of and hope the Tri-Tec legacy can live on,” Ray continues. ZP Enterprises, LLC is a repeat customer of Viking Mergers and has built an impressive portfolio of precision machine shops through the Southeast. Since acquiring Tri-Tec, they plan to further expand that portfolio through additional acquisitions.