LFM Launches New Platform with Formation of Weller Metalworks
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LFM Launches New Platform with Formation of Weller Metalworks

Brian Yoder, a former senior executive with GE Aerospace and Caterpillar, leads the new platform as president and CEO

Muthig is an outsourced provider of metal fabrication, precision machining, and metal stamping services to OEMs operating in a range of industries.

SOURCE: Getty Images

LFM Capital has formed Weller Metalworks as a metal fabrication and machining platform and has closed its first acquisition with the buy of Muthig Industries.

Muthig is an outsourced provider of metal fabrication, precision machining, and metal stamping services to OEMs operating in a range of industries including, among many others, agriculture, appliance, construction, electronics, food, beverage, marine, military transportation and motorcycles.

Source: Muthig Industries

The third generation family-owned company was founded in 1965 by Ray and Judy Muthig and operates a 35,000 square foot facility located 65 miles northwest of Milwaukee in Fond du Lac, Wisconsin.

“LFM’s deep expertise across manufacturing, operations, and engineering was truly differentiating as we selected a partner to help grow Muthig’s business,” said Jeff Nuss, the president of Muthig. “Since the company’s founding in 1965, we have remained committed to providing the highest quality services to our loyal customers. We are honored to work alongside LFM and the broader Weller platform to maintain this commitment with the help of our dedicated employees.”

Brian Yoder, who joined LFM as an operating executive in October 2022, will serve as the president and CEO of Weller Metalworks. Mr. Yoder’s past work includes manufacturing and leadership experience at several companies including GE Aerospace (2016 to 2022) and Caterpillar (2003 to 2016). At GE Aerospace, from 2020 to 2022, Mr. Yoder was the global operations general manager for GE Aerospace’s combustion and structural components unit, a multi-site machining and fabrications business.

LFM’s strategy for Weller Metalworks is to build a company that can provide complete lifecycle fabrication and machining services to OEM customers, from the prototype stage through production and end-of-life management, with a focus on integrated digital technologies.

“I am delighted to kickstart Weller Metalworks with the addition of Muthig Industries,” said Mr. Yoder. “This business is ideally suited to address customers’ diverse needs by offering high-quality fabrication, machining, stamping, and tool and die capabilities to streamline supply chains. As the inaugural acquisition, Muthig serves as a strong testament to the bright future of the Weller platform.”

“The addition of Muthig to Weller Metalworks is a key milestone for LFM. As we grow the platform under Brian’s leadership across geographies, capabilities, and industries, Weller will be able to support customers seeking a high-performing, diversified business with expanded capabilities,” said Dan Shockley, a managing director at LFM.

“Notably, the digital initiatives that we implement across the Weller Metalworks platform will unify our offerings to our customers, improve our efficiencies and ensure each business maintains optimal levels of performance,” concluded Mr. Yoder.

In addition to Mr. Shockley and Mr. Yoder, the LFM transaction team included Operating Partner Ken Hoefling, Vice President Russ Aiken, and Associate Dalton Gullett. Managing Director Jessica Ginsberg sourced the opportunity for LFM.

LFM invests in United States-based manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values from $15 million to $125 million. The firm was formed in May 2014 and is headquartered in Nashville.

© 2023 Private Equity Professional | July 13, 2023

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