M&A Deal Summary

Palmer Johnson Power Systems Acquires Wheco

On November 4, 2025, Palmer Johnson Power Systems acquired business services company Wheco from Steel River

Acquisition Highlights
  • This is Palmer Johnson Power Systems’ 1st transaction in the Business Services sector.
  • This is Palmer Johnson Power Systems’ 1st transaction in the United States.
  • This is Palmer Johnson Power Systems’ 1st transaction in Washington.

M&A Deal Summary

Date 2025-11-04
Target Wheco
Sector Business Services
Buyer(s) Palmer Johnson Power Systems
Sellers(s) Steel River
Deal Type Divestiture

Target

Wheco

Richland, Washington, United States
Wheco provides repair, restoration, modernization, and inspection services for cranes and other heavy equipment used in construction, utility, and industrial operations. The Company serves clients, including government agencies, insurers, and contractors, offering certified and warrantied repairs across multiple equipment types. Wheco was founded in 1978 and is headquartered in Richland, Washington.

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Buyer(S) 1

Buyer

Palmer Johnson Power Systems

Sun Prairie, Wisconsin, United States

Category Company
Sector Business Services
DESCRIPTION

Palmer Johnson Power Systems distributes and services drivetrain and hydraulic components for the off-highway, construction, industrial, marine, and oil & gas markets. The Company provides repair, remanufacturing, and parts support for transmissions, axles, and related powertrain systems across North America. Palmer Johnson Power Systems was founded in 1977 and is headquartered in Sun Prairie, Wisconsin.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Washington M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

Steel River

United States

Category Company
Founded 2020
Sector Business Services
DESCRIPTION

Steel River is a holding company for industrial services businesses. Steel River are a group of owner operators committed to preserving legacy, while driving innovation and positive change in our industries as well as our communities.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Washington M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-06 Wheco

Richland, Washington, United States

Wheco provides repair, restoration, modernization, and inspection services for cranes and other heavy equipment used in construction, utility, and industrial operations. The Company serves clients, including government agencies, insurers, and contractors, offering certified and warrantied repairs across multiple equipment types. Wheco was founded in 1978 and is headquartered in Richland, Washington.

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