Stellar Announces Acquisition of Elliott Machine Works

GARNER, Iowa (Nov. 1, 2024) — Stellar Industries, a 100% employee-owned and -operated manufacturer of mechanic and service trucks, cranes, tire service trucks, hooklifts, trailers and service truck and van accessories, announced the acquisition of Elliott Machine Works Inc., a family-owned manufacturing company based in Galion, Ohio. This strategic investment is aimed at enhancing Stellar’s growth, expanding its product offerings and providing greater opportunities for Stellar distributors, customers and employee-owners.

Elliott Machine Works is recognized for its production of mobile fuel and lube service equipment since 1948. Their portfolio includes fuel trucks, lube trucks, water trucks, lube skids, vacuum tanks and other mobile service equipment.

Delivering More Through Rural Investment

Dave Zrostlik, president of Stellar, emphasized the importance of the acquisition and its impact: “By incorporating fuel trucks and lube trucks into our existing line of service trucks, we can now serve a broader mission, reach more customers and meet their needs even better by filling gaps in our offerings. We anticipate that our customers will start to throw more opportunities our way, and we’re ready to deliver. In addition, this acquisition strengthens our commitment to rural communities, ensuring we are making the biggest impact to the places our employees call home.”

Benefits for Vendors, Distributors, Customers & Employees

The acquisition will not only enhance Stellar’s work truck product offerings but also benefit its vendors, distributors and customers by adding complementary products that serve many of the same markets, including mining, construction and oil and gas. The Elliott manufacturing facility and main office will remain in Galion, Ohio, where it will continue to manufacture the full lineup of specialized service trucks.

Commitment to Employee Ownership

As an employee-owned company, Stellar is committed to fostering a workplace where every employee-owner has a stake in the company’s success. The employee stock ownership plan (ESOP) structure allows employees to become beneficial owners of the company, aligning their interests with the overall performance and growth of Stellar. This alignment not only promotes a culture of collaboration and shared success but also motivates employees to contribute actively to the company’s initiatives. Through the ESOP, Stellar ensures that employees are directly rewarded for their contributions.

New Opportunities for Elliot Employees

In addition, joining the Stellar team provides new opportunities for career development and growth for Elliott employees. Employees will have access to a broader network, expanded roles and additional resources and training. The integration brings exposure to diverse projects and new markets, creating opportunities for career advancement and personal development within the organization.

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