INDIANAPOLIS — Standard Change-Makers Inc., a manufacturer of currency change machines and car wash entry systems, reports that it has been purchased by RKU Standard Inc., under the direction of Rob and Kathleen Unterborn. The deal was effective Monday, and terms were not announced.
Standard Change-Makers had been owned by the McNutt family since James R. McNutt Sr. founded it in 1955. Jim McNutt Jr., who has served in various capacities since 1977, took over as president/CEO in 1992.
The new owner, Rob Unterborn, has served as Standard Change-Makers’ vice president and chief financial officer since 2016, and became chief operating officer in 2018.
McNutt Jr. says it was important that the company not be sold to corporate interests but run by an ownership group with a family focus who believed in the products and wanted to continue building on the foundations that Standard has worked hard to maintain.
“I’m excited for Standard that Rob and Kathleen have that kind of focus and that the company will be in good hands,” adds McNutt Jr., who will serve as chairman of the board of the new company that will continue to operate as Standard Change-Makers Inc.
“We said from the start that the only way we would move forward is if Jim, Sandy and Rob McNutt would continue to be part of our Standard team,” says Unterborn, now president/CEO. “Their experience and knowledge of the industries we serve and the day-to-day operations are an important part of who and what we are as a company. We have a great core in place, and we want to continue to build the best products in the industry.”
All current management and team members will continue to serve in their present capacities. The regional sales team includes Dan Wagner leading efforts in the Eastern states, Tom Kozlik in the Western states, and Paul Thompson in Canada.