GGI Motors purchases AIMS

Goldstein Group Inc. buys industrial motors and power-generation equipment service company through new subsidiary.

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July 24, 2020

GGI Motors LLC, a wholly owned subsidiary of St. Louis-based Goldstein Group Inc. (GGI), the parent company of Alter Trading Corp., has purchased the assets of American Industrial Motor Service LLC (AIMS), Milwaukee.

GGI Motors was specifically created for the purpose of acquiring AIMS, says Bob Ellis, senior vice president and general counsel for Alter Trading Corp. 

AIMS services a variety of industrial motors and power-generation equipment and distributes ACTOM motors. The company will continue to operate from its Milwaukee location using the AIMS name, Ellis says.

J.P. Boucher, vice president of operations, will continue to oversee the day-to-day operations and lead the service team that has made AIMS a leader in the heavy industrial motor, switchgear and specialty electric industries, according to a news release about the acquisition.

“We are pleased that GGI recognizes the incredible value that our AIMS team brings to our industrial customers,” Boucher says. “Our entire team will remain in place, and we are all very eager to move into this next phase of our growth and development.”

GCI says it will flex the AIMS name and reputation, bolstered by a stronger balance sheet, to improve and enhance its services and to build upon the strong relationships already in place. It also will explore opportunities to help improve operating efficiency and avoid costly equipment downtime for customers.

GGI is a family-owned holding company that owns and operates Alter Trading Corp., Alter River Terminals, Alter Logistics Co. and a number of other real estate and passive investment companies.

“GGI and its affiliates are no strangers to large shredder motors and switchgear needs and the importance of rapid response and quality service to the shredder industry. We have decades of history with J.P. and the AIMS team, and this move will solidify AIMS as a leader in the industry, now backed by GGI’s 122 years of recycling history,” says Marc Goldstein, president of GGI Motors.

Ellis says, “When we learned that the owners might be interested in selling the company, it was a natural fit for us to enter into discussions with them and to ultimately acquire the company. The transaction was also desirable because of our familiarity with the exceptional AIMS employee team, all 27 of whom have been retained and we look forward to working with in the future.”

He adds that AIMS’ extensive list of clients in the auto shredding sector reaches throughout North America. “While AIMS sees growth potential in many of the industries it services, AIMS sees tremendous opportunity in servicing the shredder industry.”

AIMS will continue to be the sole North American distributor of ACTOM motors from South Africa, offering sales and service for ACTOM motors and all other brands of industrial motors, rheostats and switchgear, according to the news release.

“Providing emergency service to get our customers back online has always been a critical part of our mission,” Boucher says. “Regardless of the manufacturer or the circumstances, we will always work to get you back up and in production as quickly as possible.”

As a result of the purchase, “AIMS’ customers will see AIMS expanding its product and service offerings in its sectors, offering new ways to help improve its customers’ performance,” Ellis says.

Paul Cuthbert, divisional CEO of ACTOM, is positive about the change of ownership, saying, “We look forward to working with the new group to explore better ways to service our U.S.-based customers and expand our sales of purpose-built shredder motors to new and retrofit projects.”