After years of being a core shareholder in WillowWood, Mt. Sterling, Ohio, Robert Arbogast has sold his shares to his four children. Through an outright purchase of Arbogast’s company shares, and those from the estate of his brother, Joseph Arbogast, company ownership was transferred to his children, Michelle, Lisa, Leslie, and Ryan Arbogast, making them the fourth generation to own the company. The transfer of company ownership was shared publicly on August 31.
Majority shares are now owned by Ryan, who has served as WillowWood’s president since 2011 and oversees all company operations and sales. The remaining company shares are divided among the other siblings.
“This is an exciting time at WillowWood,” said Ryan. “We’re remaining a privately held family business, and we’re exploring new opportunities for investment and new technologies to utilize in the development of prosthetics.”
WillowWood was founded in 1907 by William E. Arbogast, and has remained a family business for 109 years.
“There’s research stating that only three to four percent of all family businesses reach the fourth generation or beyond,” said Lisa. “My family is proud of the work we’ve accomplished and all of us are looking forward to continued growth and success in helping amputees regain their mobility with WillowWood’s prosthetic products.”
