Plank Enterprises finalizes building purchase
Posted: October 10, 2008
As was first reported in the July 11,2008, issue of The Bottom Line, Eau Claire-based Plank Enterprises, the parent company of LPI Inc., LDPI Inc., Pro-Cise Inc. and Badger Industrial Suppy and Equipment, LLC, has closed on the acquisition of the 125,000-square-foot building at 4404 Anderson Dr., Eau Claire, from Menomonie-based DAL Investments 2, effective Oct. 1st. The facility was most recently occupied by Jennico2. Prior to that, TriCo Solutions leased the complex.
According to Plank Enterprises President Mike Ottum, the company outgrew its space it has occupied at Banbury Place since 1993.
"Our strategic plan called for us to build a new facility in 2010 and when this building became available, we thought it was a good fit for our operations. We're going from 70,000 square feet to 115,000 square feet, which will allow us to be more flexible in our manufacturing processes and add assembly lines," said Ottum, who added that the company has been preparing for the relocation and expansion for more than a year.
"We've added seven or eight people in the last 18 months and we anticipate possibly adding another 10 engineers and assembly workers over the next year...In addition, we have also been able to invest in new equipment and automated machinery," he said.
LPI Inc. was founded by Leon Plank in Osseo,WI. The company manufactures industrial lighting for the paint finishing industry. LDPI Inc. was created the same year as a division dedicated to light fixture manufacturing. Pro-Cise Inc. was established in 1999 and specializes in designing precision components. Badger Industrial Supply and Equipment serves as a catalog division within LPI Inc.
Dean Larsen of Acquisition Realty & Development handled the building sale on behalf of the buyer and seller.TBL