PowerPusher parent company acquired by equity firm

Nu-Star Inc., parent company of the PowerPusher material handling line of equipment, has been acquired by Traction Capital, a Wayzata, Minnesota-based private equity and venture capital firm.

“As a longstanding leader in material handling solutions, we are proud to announce our recent acquisition by Traction Capital,” Nu-Star says. “This milestone marks the beginning of a new chapter in our journey, one that promises continued excellence and even greater value [our] customers.”

The company says the arrangement will offer it an ability to introduce cutting-edge technologies and advanced solutions into its product line.

“We are enthusiastic about enhancing our offerings and services to better serve your unique needs," Nu-Star adds. "Our aim is to provide you with even more effective and efficient material handling solutions.”

At the same time, the company says the acquisition is not entirely about what will change. “We want to assure you that our commitment to providing the highest quality products and exceptional customer service remains unwavering,” Nu-Star says in its notice to customers.

“The Nu-Star team you know and trust will continue to be at your service, and there will be no disruptions to our day-to-day operations."

Traction Capital comprises entrepreneurs and business owners and offers financial investment and guidance.

“This acquisition allows us to bring more innovation and expertise to the table, and we are fully dedicated to delivering even higher levels of satisfaction to our customers," Nu-Star CEO Scott Lorch says.

Shakopee, Minnesota-based Nu-Star provides engineered material handling solutions designed to provide cost-effective load-moving solutions with its PowerPusher brand applications including construction, renovation, recycling and solid waste. The company's history dates back to 1959.

“Traction Capital’s expertise aligns perfectly with our goals to enhance customer service and deliver the best solutions in the industry," Nu-Star Vice President Ryan Blesi says. "We are confident that our collaboration will bring about significant improvements.”