An investment group has bought Fast Ag Solutions, its product lines, and its facilities in Windom, Minn., and Gilman, Ill., from FAST Global Solutions, Inc.
The divestiture returns the business to the Fast family. The company will be led by Cody Fast, president of Fast Ag Solutions.
“I look forward to expanding our product offering and availability, while continuing to provide excellent customer service,” Fast said. “We have been in business since my father, Verlyn Fast, started the company over 30 years ago, and I am honored and excited to build upon the Fast legacy by continuing to provide dependable, feature-rich products to our dealers and customers.”
FAST Global Solutions CEO Steve Hagstrom said: “We are pleased to see the Fast Ag brand and product offering back in the hands of the Fast family and believe they will continue to build the brand’s reputation in the industry and also support the communities where they do business.”
The sale process was led by Tim Meyer, CEO of the investment banking firm Equity Advisors, Inc.
The primary investor in the purchase is Midwest Growth Partners, based out of West Des Moines, Iowa. A minority investor in the group includes Verlyn Fast, the original owner and founder of Fast Sprayers.
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