Brookfield-based GenAlpha Technologies LLC, an aftermarket parts technology firm founded by a group including Tim Sullivan, has been sold to New York private equity firm Shore Points Capital.
Sullivan serves as executive chairman of GenAlpha. The former Bucyrus International Inc. chief executive officer and several other Bucyrus employees launched the firm after Bucyrus was acquired by Caterpillar Inc. in 2011. Sullivan currently serves as CEO of Milwaukee-based specialty vehicle manufacturer Rev Group Inc.
The sale of GenAlpha closed in November for an undisclosed price. Shore Points led the acquisition, in partnership with Greyrock Capital Group. A group of shareholders sold GenAlpha, but their names were not disclosed. Milwaukee-based investment bank Promontory Point Capital advised the GenAlpha selling shareholders in the sale. Read the full story here.
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