NAM, founded in Findlay, buys North Baltimore’s OGO Toilets
NORTH BALTIMORE – An investment firm that was founded in Findlay has purchased OGO, a local company that manufactures compost toilets, with plans to expand its workforce, facility size, and production within three years.
Nickolas Reinhart, founder and sole owner of Nickolas Asset Management (NAM), said he believes the market for compost toilets will continue to grow steadily as people buy more RVs, boats, cabins and tiny homes, or opt to live off the grid.
perspective, Northwest Ohioans “are the best people on the planet.” (Courtesy photo)
“We’ve already committed capital of about $10 million to invest in the facility through future acquisitions, machinery and equipment, and product development,” Reinhart told the Toledo Free Press.
He said he expects to boost the size of the OGO plant in North Baltimore from 32,500 square feet to about 50,000 square feet, and also plans to increase the number of employees from 25 to 50 within three years.
“When I bought the company, the revenues of the business were around $6 million a year, and we plan to take that and double it, if not triple it, over the next 24 to 36 months,” Reinhart said.
Compost toilets are flush-free, waterless toilet systems that turn human waste into compost using natural processes.
Along with OGO, NAM also acquired Medal Technologies, a North Baltimore firm that specializes in product development.
Reinhart said he was drawn to OGO because its compost toilets are proprietary products with a lot of patents.
“My background is in engineering design, and then designing and manufacturing proprietary products for consumer retail. I like companies like this. It’s a great small business. And I love small markets like North Baltimore.”
He said he started NAM in his hometown of Findlay and has added operations in Lima, Ohio; Georgetown, Texas; and Las Vegas, Nevada.
He said he moved to Sarasota, Fla., which is his wife’s hometown, but still spends much of his time in Ohio.
Reinhart, 44, said he grew up working in a family business.
“I worked with my father in plastics, in a family business, before I started my own companies. I started working with my Dad when I was 18 years old and I worked with him until I was about 30 years old before I started my first business.”
He said working for his father was a better education for his career than if he had studied business in college.
“There is no better mentor than a parent who cares more about you than anybody else,” Reinhart said.
He said his firm differs from the typical private equity companies that buy and then flip acquisitions for a quick profit.
“We don’t acquire a company unless we plan to own it forever,” Reinhart said. “We invest for the long term. We only buy businesses that we plan to keep and invest in. We don’t buy businesses to buy and sell them.”
He expects the recent tariffs imposed by Washington on goods imported to the United States to have only a minimal effect on OGO.
“Some of the components are sourced globally and have been impacted by tariffs,” Reinhart said, “but we’ve done a pretty good job to re-source those components to countries that have lower tariffs than others. The impact has not been that significant.”
In addition, Reinhart said the tariffs have motivated him to look at ways to manufacture components locally.
“It’s kind of put us in a position to focus on vertical integration versus sourcing, and to bring as much back in house that we could and not source products from overseas,” he said. “We already have the square footage, we just have to make the investment in the capital to do the manufacturing.”
He said he is glad to be in a position to help Northwest Ohio’s economy.
“From a business perspective, I think the people in Northwest Ohio are the best people on the planet. They are some of the hardest working and smartest people, and some of the best culture in the country is in Northwest Ohio,” Reinhart said.
The global composting toilet market is expected to grow from $1.5 billion in 2024 to $3.2 billion by 2032, according to Verified Market Reports.
OGO’s compost toilet received high praise from bloggers Tom and Cait Morton, whose Mortons on the Move website has more than 15,000 subscribers.
“Overall the OGO is our top choice for composting toilets that are available today,” the Mortons wrote. “In general, the OGO is on par with the comfort and usability of competitors we have tried.”
