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) July 24, 1996
 
                                  REALCO, INC.
             (Exact name of registrant as specified in its charter)

         New Mexico                0-27552                    85-0316176  
(State of other jurisdictions    (Commission                 (IRS Employer 
     Of incorporation)           File Number)              Identification No.)

1650 University Blvd., N.M., Suite 100, Albuquerque, New Mexico    87102
           (Address of principal executive office)               (Zip Code)

         Registrant's telephone number including area code 505-242-4561


Item 2.  Acquisition of Disposition of Assets.

(a) On July 24, 1996, the  Registrant  signed an agreement to acquire all of the
outstanding and issued common shares of Amity, Inc., an Albuquerque,  New Mexico
general  contractor  specializing in light  commercial and  residential  remodel
construction.

          (i) The assets of the acquired  business  consists  primarily of cash;
          accounts receivable; vehicles and miscellaneous tools.

          (ii) The  registrant  has agreed to  exchange  series "D"  convertible
          preferred  stock,  $10.00  per  share  liquidation  value  bearing  3%
          cumulative dividend, in exchange for 200 common shares of the acquired
          business,   such  shares   representing  the  sole  stock  issued  and
          outstanding of Amity, Inc. The number of preferred shares and value of
          such shares,  shall be issued upon the  completion of the Amity,  Inc.
          Financial  audit of its fiscal  years ended June 30, 1995 and June 30,
          1996.  Upon  completion  of the audits,  estimated  to be completed by
          September 15, 1996, the Registrant will issue to the seller, preferred
          shares as described above in the amount equal to the audited net worth
          of Amity,  Inc.,  plus  $100,000 to be  combined  with the audited net
          worth,  which sum will  represent  the fair market value of the assets
          acquired.

          (iii) The sole  stockholder  of Amity,  Inc. Is Vincent J.  DiGregory.
          DiGregory is not related to or affiliated  with any director,  officer
          or  associate  of the  Registrant.  DiGregory  has signed a three year
          employment  agreement  with Amity,  Inc. In addition,  DiGregory  will
          receive an annual  bonus of 20% in excess of $200,000  annual  pre-tax
          earnings of Amity,  Inc. At the anniversary of each of the three years
          of   employment   by  DiGregory,   DiGregory   will  Receive   16,666.
          Unregistered  warrants to purchase stock of the Registrant,  terms and
          conditions of the issued  warrants  will be similar to those  warrants
          currently  issued and  outstanding,  which  warrants  were  offered on
          February  2,  1996  as  part  of an  Initial  Public  Offering  of the
          Registrant.

          (iv) The securities to be issued in  consideration  of the transaction
          shall be  authorized  from the  Registrants  authorized  and  unissued
          preferred  stock.  Such issued shares to be issued shall be restricted
          as to sale and disposition.

(b) Equipment  consisting of tools,  vehicles and office equipment will continue
to be employed for the purpose described in (a)(i) above.

Item 7. Financial Statements and Exhibits.

(a) Audited  Financial  Statements  for the business  which was acquired are not
readily  available.  As noted above, the Registrant has undertaken to retain the
Registrants independent auditors to examine and provide an audit of the acquired
business  for the  benefit  of the  benefit  of the  Registrant,  for the fiscal
periods  ended  June 30,  1995 and 1996.  The  completed  audit of the  business
acquired is expected to be completed by September 15, 1996.  Upon  completion of
the  financial  Statements,  the  registrant  will  amend  this 8-K as to Item 7
herein.

                                   SIGNATURES

Pursuant to the Securities  Exchange Act of 1934, the Registrant has duly caused
this  report  to be  signed  in its  behalf  by the  undersigned  hereunto  duly
authorized. Realco, Inc.


                                               James A. Arias
                                               ---------------------------------
                                               James A. Arias, President
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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) July 24, 1996
 
                                  REALCO, INC.
             (Exact name of registrant as specified in its charter)

         New Mexico                0-27552                    85-0316176  
(State of other jurisdictions    (Commission                 (IRS Employer 
     Of incorporation)           File Number)              Identification No.)

1650 University Blvd., N.M., Suite 100, Albuquerque, New Mexico    87102
           (Address of principal executive office)               (Zip Code)

         Registrant's telephone number including area code 505-242-4561

Item 2.  Acquisition of Disposition of Assets.

(a) On July 24, 1996, the  Registrant  signed an agreement to acquire all of the
outstanding and issued common shares of Amity, Inc., an Albuquerque,  New Mexico
general  contractor  specializing in light  commercial and  residential  remodel
construction.

          (i) The assets of the acquired  business  consists  primarily of cash;
          accounts receivable; vehicles and miscellaneous tools.

          (ii) The  registrant  has agreed to  exchange  series "D"  convertible
          preferred  stock,  $10.00  per  share  liquidation  value  bearing  3%
          cumulative dividend, in exchange for 200 common shares of the acquired
          business,   such  shares   representing  the  sole  stock  issued  and
          outstanding of Amity, Inc. The number of preferred shares and value of
          such shares,  shall be issued upon the  completion of the Amity,  Inc.
          Financial  audit of its fiscal  years ended June 30, 1995 and June 30,
          1996.  Upon  completion  of the audits,  estimated  to be completed by
          September 15, 1996, the Registrant will issue to the seller, preferred
          shares as described above in the amount equal to the audited net worth
          of Amity,  Inc.,  plus  $100,000 to be  combined  with the audited net
          worth,  which sum will  represent  the fair market value of the assets
          acquired.

          (iii) The sole  stockholder  of Amity,  Inc. Is Vincent J.  DiGregory.
          DiGregory is not related to or affiliated  with any director,  officer
          or  associate  of the  Registrant.  DiGregory  has signed a three year
          employment  agreement  with Amity,  Inc. In addition,  DiGregory  will
          receive an annual  bonus of 20% in excess of $200,000  annual  pre-tax
          earnings of Amity,  Inc. At the anniversary of each of the three years
          of   employment   by  DiGregory,   DiGregory   will  Receive   16,666.
          Unregistered  warrants to purchase stock of the Registrant,  terms and
          conditions of the issued  warrants  will be similar to those  warrants
          currently  issued and  outstanding,  which  warrants  were  offered on
          February  2,  1996  as  part  of an  Initial  Public  Offering  of the
          Registrant.

          (iv) The securities to be issued in  consideration  of the transaction
          shall be  authorized  from the  Registrants  authorized  and  unissued
          preferred  stock.  Such issued shares to be issued shall be restricted
          as to sale and disposition.

(b) Equipment  consisting of tools,  vehicles and office equipment will continue
to be employed for the purpose described in (a)(i) above.

Item 7. Financial Statements and Exhibits.

(a) Audited  Financial  Statements  for the business  which was acquired are not
readily  available.  As noted above, the Registrant has undertaken to retain the
Registrants independent auditors to examine and provide an audit of the acquired
business  for the  benefit  of the  benefit  of the  Registrant,  for the fiscal
periods  ended  June 30,  1995 and 1996.  The  completed  audit of the  business
acquired is expected to be completed by September 15, 1996.  Upon  completion of
the  financial  Statements,  the  registrant  will  amend  this 8-K as to Item 7
herein.

                                   SIGNATURES

Pursuant to the Securities  Exchange Act of 1934, the Registrant has duly caused
this  report  to be  signed  in its  behalf  by the  undersigned  hereunto  duly
authorized. Realco, Inc.

                                               James A. Arias
                                               ---------------------------------
                                               James A. Arias, President