An Engine of America Making Equipment Move
Since our founding in 2006, Platte River Equity ("Platte River") has been committed to the companies that drive the American economy – the so-called Engines of America. These are the businesses we embrace; the ones who operate behind the scenes, receiving less public recognition than they deserve given their invaluable contributions to the country's growth. As a positive force, the Engines of America drive change, adoption, and profitability, but they also work to achieve a delicate balance between competitive advantages and the interests of the investor, the executive, the manager, and the employee. Industry, communities, and families that cohabitate in this special place in America represent the change that has driven the most successful country in history.
We are unwaveringly dedicated to partnering with companies that are delivering exceptional value while upholding the highest standards of quality, safety, and growth. Across many industries, many sectors, and many stories we find success lies in our center, our heart, and our hope for the future.
Over the next several months, Platte River will embark on an initiative with our portfolio company leaders (past and present) to discuss what it means to create – through business building, innovation and entrepreneurship – enterprises that serve as the Engine of America.
Although Womack-Morrell was founded several decades ago, our focus has been and remains simple: Our company is an engine that helps create and support industrial and manufacturing processes across a variety of industry sectors.
At its core, Womack-Morrell is in the motion control business. This includes anything on wheels outside of a factory and anything that requires movement inside a factory. We build the products that provide hydraulic, electrical and pneumatic power to move and transport all types of equipment, impacting every aspect of industrial life as a result. Ultimately, through our collaboration with product manufacturers worldwide - all working in various industries - we are powering society's future mobility.
For example, the food you eat, the house you live in, the electricity you use, the car you drive, and the roads you drive on, are all impacted by the products we create and the partners we work with.
We partner with the highest quality manufacturers in the world, allowing us to take those leading products and implement them in ways that allow our customers to be their best: the best backhoe manufacturer, the best street sweeper, the best factory of the future. With all our work in the area of motion control, it's not a stretch to say we are an Engine of America.
What's special about Womack-Morrell is our position at the intersection of technology and innovation. For example, if we recruit a new forklift operator that lacks a certain degree of experience, we can place high technology sensors on the equipment to ensure that no harm occurs to the operator or the facility. We are able to apply various forms of technology to everyday life, creating more efficient business processes as a result.
We are only scratching the surface of what the industry can create and accomplish. Considering the potential capabilities of both factory automation and mobile equipment makes us excited - because the sky is the limit.
The commitment to innovation and doing things at high quality has long been an element of Womack-Morrell's DNA. Our founder, Bob Womack, was committed to finding novel solutions to emerging issues. Someone described him by saying, "Bob was working on a solution before most people knew there was a problem." We like to think that that describes our culture as well.
What our business boils down to is helping customers find a better way. We love it when someone comes to us and says, "Hey, I don't know how to do this. I'm trying to electrify this vehicle, and I don't have the space to do this. I need this functionality, this power density...where do I start?"
That's when we get to work.
- Matt Oldroyd, CEO of Womack Group
