Private equity firm Platte River Equity of Denver is investing in In-Place Machining Co. in Milwaukee.
In-Place Machining (IPM), a provider of on-site machining and measurement services, is based at 3811 N. Holton St. The investment is being done in partnership with existing ownership of the company. Terms are not being disclosed.
“The investment is to support future growth,” Jonathan Eder, president of IPM told the Milwaukee Business Journal. “Demand for our services has been high and continues to be high.”
Eder said the company has grown substantially over the last several years, and now has more than 100 employees, roughly three-fourths of whom are based in Milwaukee.
“We’re 100 percent committed to the city of Milwaukee,” he said, adding that “while many companies are importing services and exporting jobs, we’re doing the opposite.”