BREWERTON, N.Y. — The Schneider family has sold Schneider Packaging Equipment Co., Inc. to the company’s top executives.
President Bob Brotzki, Executive Vice President Greg Masingill, and VP of Engineering and Services Mike Smith purchased the business. The sale closed June 22. They declined to disclose terms of the sale.
The company, which engineers, builds and installs end-of-line packaging equipment, was founded by Dick Schneider in 1970. His son, Rick Schneider, served as president until August 2017 when Brotzki was given the title.
“It was desirable for all of us,” Brotzki says of the sale. “Rick is approaching retirement age and is very loyal to his employees, the community and our customers.” For those reasons, he says, it made sense to sell the company to those who were already leading it.
Brotzki says buying the company was not part of his plan when he came aboard two years ago. “It just happened,” he says.
The company has generated rapid sales growth recently. It reports that sales rose 90 percent in 2017, reaching more than $22 million.
This year, sales are on track to increase another 16 percent and Brotzki says he doesn’t see any reason that can’t continue.
The company name will not change and Rick Schneider will remain with the business as a special consultant to the engineering department.
Contact McChesney at cmcchesney@cnybj.com
Photo credit: Schneider Packaging