Markey Machinery Closes Investment to Expand its More Than 100-Year-Old Business
SEATTLE–(BUSINESS WIRE)–Markey Machinery, who for over 100 years has established itself as a global leader in the marine deck equipment and winch industry, has announced it has closed a growth investment with Christian Schiller and Brian Bogen.
“Christian and Brian are investing in an ongoing commercial enterprise that doesn’t require change”
Markey will continue to operate from its current Seattle production facility and office, with all employees remaining on board. Current CEO Blaine Dempke will continue leading the business as CEO and will participate on the Markey board as a significant shareholder. Jeff Dempke will assume the new role of General Manager and become a shareholder. Jeff Dempke has been with Markey since 2006. Robert LeCoque will remain actively involved, providing assistance to Markey’s customers, and working with the Engineering & Sales group.
“Brian and I made an investment in Markey in partnership with current management to facilitate growing the business to the next level,” Schiller said. “We are impressed with the level of talent and expertise Blaine, Bob and Jeff have assembled at Markey, and believe this is an excellent platform for further growth leveraging Brian’s expertise in the marine industry. There will be no changes to the management, employees or the overall business operations other than to provide additional expertise, capital and value we bring to help assist Markey’s continued growth.”
Blaine Dempke and LeCoque started working with Markey as teenagers and rose through the engineering department and machine shop ranks. They took over management of the company in 1996 and bought out the Markey family in 1999.
“Christian and Brian are investing in an ongoing commercial enterprise that doesn’t require change,” Blaine Dempke said. “We are a well-run company with a great reputation and established customer base. We chose to work with Brian and Christian because of their expertise and resources available in addition to a solid familiarity with a marine business which is cyclical and unique.”
Markey Machinery began operations in 1907, when a young Charles Markey, fresh from a two-year trading expedition on the Alaska and Siberian coast, launched the C.H. Markey Machinery Company serving both the marine and logging industries. Read the original article here.
