Today, they manufacture process equipment for the plastics industry, and employ roughly 100 people.

[4] In 1986, a group of private equity investors including Rolf Liebergesell, Charles S. Jones and Alberto Shaio, acquired the company from Emhart Corporation (which later merged with Black & Decker) for $1.0 million plus assumption of debt.

[5] Then, Farrel, under Liebergesell’s direction, focused exclusively on its core operations of plastic and rubber equipment.

[citation needed] In 1992, Charles S. Jones led Farrel’s IPO on NASDAQ, underwritten by Paine Webber and First Albany for a pre-money valuation of $52.1 million, giving the original investors a 52.1x return in less than six years, with an IRR of 92.1%.

Following the acquisition, Charles S. Jones led the acquisition of Farrel’s major competitors, including Rockstedt OHG in Germany, Francis Shaw Rubber Machinery Ltd. and PRC Fabrications Ltd in the United Kingdom and Skinner Engine in Erie, Pennsylvania.