CARMEL (Inside INdiana Business) — Carmel-based Empowered Ventures has acquired Firstar Precision Corp., a precision machining company located in Ohio. Empowered Ventures is an employee-owned holding company that acquires closely-held businesses.
“As an employee-owned holding company, we help companies like Firstar by providing a straightforward, low-friction buyout process that results in the employees joining our diversified ESO,” said Empowered Ventures Chief Executive Officer Chris Fredericks.
Founded in 2000, Firstar serves the medical, aerospace, food processing, and hydraulics industries. Empowered says it brings strategic assistance and resources to support Firstar’s continued growth and success.
Empowered Ventures says it helps successful small businesses plan for succession, providing a long-term home for companies and employees.
“By working with Empowered Ventures on their succession planning, an owner can sell their business and receive the peace of mind that comes with transitioning ownership to the employees, which is a win-win outcome for a business, like Firstar,” said Spencer Springer, vice president of Empowered Ventures. “When employees think like owners, they become more engaged, invested, and strategic. All our businesses have a bright future with the employees leading the way.”