By SP&T Staff
MINNEAPOLIS, Minn. — Winsted Corporation announced new ownership under investment firm Pathfinder Companies LLC. The acquisition of Winsted was finalized effective close of business on Oct. 31.
Since 1963, Winsted has been a provider of control room console solutions.
“Our philosophy aligned with Pathfinder’s so well, that it confirmed this was the right decision for Winsted to move forward as a company,” said Steve Hoska, former Winsted owner. “We trust the Pathfinder team to support the best long-term interest of the company.”
Under the acquisition:
- Jack Cardwell is introduced as Winsted’s new CEO. Prior to joining Winsted, Cardwell served at 3M for 27 years, most recently in the role of VP of Marketing and Sales Operations.
- Randy Smith will continue as president. Smith and Cardwell will be part of the new ownership group and will work closely together to lead Winsted’s executive team.
- Winsted operations will remain unchanged.