Close

Thrasher Boosts Ownership Stake in German-Based Parent Company

Staff Writer |

Lavatec Laundry Technology Inc. president now owns 49% of equipment manufacturer

BEACON FALLS, Conn. — Mark Thrasher, president of Lavatec Laundry Technology Inc. (LLT), has “significantly expanded” his ownership of German-based parent company Lavatec Laundry Technology GmbH to 49%, according to LLT.

The move strengthens Thrasher’s partnership with CEO and Managing Partner Wolf-Peter Graeser, broadens his involvement as co-manager in global operations, and reflects both parties’ confidence and commitment to asserting LLT leadership in the industrial and commercial laundry marketplace, the company adds.

LLT has offices in Germany, the U.S., France, Thailand and Great Britain, and more are planned.

Since becoming president of U.S. and North American operations in July 2010, Thrasher has driven stepped-up product development and line expansion efforts, LLT says. He helped reinvigorate the LLT distributor network and fortify the company’s customer service and aftermarket capabilities, and led an initiative to more closely connect LLT with user issues.

“We already have made major strides in elevating awareness of the LLT brand, its decades of innovation of laundering technology, and continued industry leadership,” says Thrasher, a 20-year professional with the company. “New equipment being introduced, for example, strengthens our presence in laundry finishing.”

The restructuring will provide “enhanced collaboration” between the Heilbronn, Germany, manufacturing operation and U.S.-based LLT, the company says.

 

Advertisement

Digital Edition

Latest Classifieds

Industry Chatter