Lingate completes sale of PowerPusher manufacturer Nu-Star Inc.

MINNEAPOLIS, MN – Traction Capital of Wayzata, MN has purchased the assets of Nu-Star, Inc. with facilities in Shakopee, MN and the United Kingdom. Nu-Star specializes in material handling, with proprietary PowerPusher® branded electric tuggers and pushers (www.powerpusher.com). Traction Capital was founded in 2019 as a hybrid venture capital and private equity firm. Traction closed on its current fund in 2021 and has invested in nearly a dozen companies in various industries. 

“Nu-Star has a remarkable legacy, and we see immense potential in the company” said Shane Erickson, Founder and Managing Partner of Traction Capital. “We look forward to working alongside the existing management team to implement the Entrepreneur Operating System® (EOS), streamline warehouse operations, and introduce advanced technology solutions to enhance efficiency and overall quality.”

Nu-Star’s CEO Scott Lorch shared his enthusiasm about this partnership, stating, “The management team is very excited about this acquisition, and very eager to begin working with the Traction team. We are looking forward to growing Nu-Star to the next level.”

Minneapolis-based Lingate Financial Group represented NuStar’s extended family ownership group in the transition of the company and conducted a national marketing effort on the company’s behalf. Founded in 1945, Lingate helps business owners with market-based valuations, business sales, mergers, acquisitions, recapitalizations, and internal transitions among family members, partners and management.