UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 4, 2002

Realco, Inc. (Exact name of registrant as specified in its charter)

New Mexico (State or other jurisdiction of incorporation)

2-07552 85-0316176 (Commission File Number) (IRS Employer Identification No.) 1650 University Blvd. N.E., Suite 5-100 Albuquerque, New Mexico 87102 (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (505)242-4561

N/A

(Former name or former address, if changed since last report)

ITEM 5. OTHER INFORMATION.

On April 2, 2002, the Registrant announced the resignation of James A. Arias, effective March 31, 2002, as President, CEO and Director of the Registrant and the appointment of Edward S. Adams as President, CEO and Director of the Registrant in his place. Additional information is set forth on the press release issued by the Registrant and attached as Exhibit 99.1

ITEM 5. OTHER INFORMATION.

99.1 Press Release dated April 2, 2002.

NEWS RELEASE

FOR IMMEDIATE RELEASE --------------------- April 2, 2001 FOR FURTHER INFORMATION CONTACT: ------------------------------- Edward S. Adams President and Chief Executive Officer Realco Inc. 763-923-2260

Realco Inc. Announces Appointments

------------------------------------ Albuquerque, New Mexico, April 2, 2002 - Realco Inc. (RLCO) today announced the appointment of Edward S. Adams to President and CEO, succeeding James A. Arias, a founder of the Company who had served as President, CEO and Director since its inception in 1983. Mr. Arias has agreed to continue to serve the Company in various consulting capacities. "We appreciate the important contributions Mr. Arias has made in the growth of the Company," said Adams, adding that "we welcome and look forward to his ongoing consulting services with the Company." Mr. Adams, a Director of the Company, graduated cum laude with a JD degree from the University of Chicago Law School where he served as managing editor of the University of Chicago Law Review. Following his graduation, Mr. Adams clerked for Judge J. Harvie Wilkinson, III of the United States Court of Appeals for the Fourth Circuit and worked in the Chicago office of Latham and Watkins, a prominent international law firm with 20 offices and 1,400 attorneys worldwide serving the needs of Fortune 500 clients. During his tenure at Latham and Watkins and his subsequent positions as of counsel at Fredrikson & Byron, a prominent law firm in Minneapolis, MN, and as a principal at Jon Adams Financial Co., L.L.P., a regional boutique merger and acquisitions firm, Mr. Adams was involved in transactions and gained extensive experience in the public and private offerings of equity and debt; mergers and acquisitions of publicly- and closely-held corporations; loan restructurings; receivables financings; structured finance; commercial transactions; and bankruptcy liquidations and reorganizations. Mr. Adams has over $1 billion of transactional experience as an attorney, financial advisor and consultant, and principal, and is a 1997 MBA with highest honors graduate of the Carlson School of Management at the University of Minnesota. Equity Securities, a division of the Company, today also announced the appointment of Daniel A. Halpern as Senior Vice President, Corporate Finance. Mr. Halpern will assume a lead role in the Company's expansion plans. Most recently, Mr. Halpern served as Managing Director of Midwest Capital Group, a corporate finance and business development consulting firm based in Minneapolis. Previously, he served in business development, finance, sales and marketing roles with healthcare and technology companies, including U.S. General Manager and Director, Investor Relations for Elron Electronic Industries Ltd. (ELRN), a technology-based industrial holding company headquartered in Israel. Mr. Halpern holds an MBA degree in finance from New York University's Stern School of Business and a BA degree from the University of Michigan. "We are thrilled that Dan Halpern is joining the firm to play a lead role in building our corporate finance and investment banking activities," stated Mr. Adams. Mr. Halpern added "this is an incredible opportunity to leverage the firm's considerable strengths in selected sectors and build a profitable boutique investment banking and asset management firm." The Company is an integrated real estate and financial services company, which provides a wide range of products and services to clients within the Albuquerque, New Mexico and Minneapolis, Minnesota metropolitan areas. The Company's operations are grouped into four principal segments--residential construction and land development, commercial real estate brokerage services, commercial construction, and financial services. Equity Securities, a wholly-owned subsidiary of the Company, has a twenty-five year plus record serving the corporate finance needs of companies and investors in a range of industries. -------------------------------------------------------------------------------- Certain information included in this release and Company filings (collectively, the "SEC filings") under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (as well as information communicated orally or in writing between the dates of such SEC filings) contains or may contain forward looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results. Among these risks, trends and uncertainties are matters relating to national and local economic conditions and the effect of government regulation on the Company. --------------------------------------------------------------------------------

SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. REALCO, INC. (Registrant) Date: April 4, 2002 By: /s/ Edward S. Adams -------------------------------- Name: Edward S. Adams Title: President and CEO

REALCO INC /NM/ 8-K