Wheel-Maker to Roll into City: Mequon-Based Brake Firm Moving Indiana Unit to Northwest Side
Posted on: Wednesday, 5 April 2006, 03:01 CDT
By Tom Daykin, Milwaukee Journal Sentinel
Apr. 5--A growing Mequon-based company that makes custom brakes for motorcycles, bicycles, snowmobiles and other non-automotive vehicles is moving one of its operations from Indiana to Milwaukee.
HB Performance Systems Inc. is moving its Sun Component Systems Inc. division to 6750 W. Florist Ave., according to information filed with the Milwaukee Economic Development Corp. Sun makes wheels and other parts for bicycles, wheelchairs and other non-automotive uses.
Sun won approval Tuesday for a $250,000 loan from MEDC, a business lending agency affiliated with the City of Milwaukee, to help finance the move.
Sun's relocation from Warsaw, Ind., will create 25 jobs in Milwaukee, according to the agency. Sun will lease 50,000 square feet at the Milwaukee building, where it will operate both an assembly operation and distribution center.
The relocation, along with the purchase and installation of equipment at Sun's new building, will cost $1.78 million, according to the agency. M&I Bank is the main lender for the project.
HB Performance Systems, 5800 W. Donges Bay Road, has around 350 full-time employees at its 155,000-square-foot facility. The company was created in June through a management buyout of Hayes Brakes LLC led Rand McNally, HB Performance president and chief executive officer.
HB Performance's clients include Harley-Davidson Inc., Simplicity Manufacturing Inc. and Trek Bicycle Corp. The company's revenue was nearly $100 million in 2004.
HB Performance bought Sun Metal Products Inc. in July for an undisclosed price and renamed it Sun Component Systems.
MEDC on Tuesday also approved a $720,000 loan to help Trackside Services Inc. finance its $1.8 million purchase of a 253,000-square-foot building at 5023 N. 35th St.
Trackside, which makes brakes for railroad cars, will move to the building from leased space at 5888 N. 91st St. and 5300 N. 33rd St., according to company President Jeffrey Berka. Trackside has around 20 full-time employees, he said, and is adding more workers.
Other loans approved included $1.85 million to help Vetter Denk Properties LLC and Paul Eberle, chief executive officer of Capital Internet LLC, develop a 25,000-square-foot office building at the northwest corner of S. 1st St. and W. Pittsburgh Ave.
The $4.6 million building's tenants will include Capital Internet, which is moving from 310 E. Buffalo St., and Vetter Denk Architects Inc., now at 614 N. Broadway
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Copyright (c) 2006, Milwaukee Journal Sentinel
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Source: The Milwaukee Journal Sentinel
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