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Manufacturing Growth: Westward Partners Acquires Globe Machine

TACOMA, WA April 4, 2024 – Globe Machine (“Globe” or the “Company”), a global leader in complex factory machinery manufacturing and automation, is thrilled to announce that the Company has agreed to a partnership with private equity firm Westward Partners.  The Seattle-based private equity firm assumed ownership of the 107-year-old industry stalwart in early April.  The acquisition will set Globe up for accelerated growth and help the Company better serve new and existing customers through innovation, training, parts and service – something it has done successfully for over a century.


Globe is an ideal fit with Westward Partners’ geographic investment focus.  Westward targets Northwest companies with strong performance records, clear vision, and proven leadership teams.  Westward finds that it’s much easier to provide value and oversight to its portfolio companies when they are right in its own backyard.  As long-time investors in manufacturing businesses, Westward embraces the industry-leading processes, IP, products, innovation, and people-first mindset which are core to the Globe DNA.  The Westward and Globe teams plan to leverage each other’s strengths to expand Globe’s customer base by continuing to enhance the quality and reliability of its machinery, expanding its aftermarket parts and services offering, extending more deeply into new product offerings, all while making Globe even easier to work with.

 

“Globe’s long-standing customer relationships and $1 billion+ installed base of machinery present a solid foundation for growth in the core business, while also setting the Company up for expansion in areas like industrial automation and aftermarket parts and service,” said Andy Baldridge, Westward Founder & Partner.  “Globe possesses strong operational and technical expertise in its tried-and-true business lines, where they are a market leader. We plan to protect and foster this foundation, while also leaning into newer business lines like industrial automation, robotics, and composites where the Company has had success more recently,” explains Erik Tolzmann, Founder & Partner at Westward Partners.


“The Westward team brings a breadth of experience and depth of resources that will make Globe an even stronger company, providing exceptional products, services and innovation to our customers.  We are excited to be partnering with Westward towards a bright future for our customers, employees and other stakeholders,” states Brian Haun, CEO of Globe.


ABOUT GLOBE: Founded in 1917, Globe is a custom factory solutions provider of complex process manufacturing equipment. From its headquarters in Tacoma, WA, Globe sells its products and services to a variety of end markets including building products, wood fiber insulation, aerospace, packaging, pulp & paper, and more recently industrial automation and robotics solutions.  The Company brings a multi-disciplined approach to meeting and exceeding customer requirements, including experts in factory automation, robotics, manufacturing, and integration to provide world-class solutions.  For more, visit globemachine.com.


ABOUT WESTWARD PARTNERS: For nearly 15 years, Seattle-based Westward Partners has been investing in privately held businesses based in the Northwest. Westward partners with experienced management teams operating  businesses with revenues between $20 and $500 million, to build long-term value for Westward's  investors and  its portfolio company management teams and employees. For more, visit westwardpartnersllc.com.

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