Morgenthaler Private Equity (MPE) has acquired Voeller Mixers, a manufacturer of batch plants and mixing equipment used in the concrete and glass industries. MPE partnered on the transaction with the existing shareholders of the company including President Ted Burbach and Vice President Mike Haggenjos.
Voeller Mixers designs and manufactures batch plants and mixing equipment used in the concrete, glass, fiberglass, fly ash, and refractory industries. In addition to equipment sales, Voeller offers aftermarket parts and services for both its mixers and batch plants. The company was founded in 1962 and is based north of Milwaukee in Port Washington, WI (www.voellermixers.com).
“We were attracted to Voeller due to the company’s high-quality products and reliable aftermarket parts and services,” said Joe Machado, Partner at MPE. “Furthermore, Voeller fits squarely within MPE’s strategy to invest in entrepreneur-owned, high-value manufacturing businesses. We are excited to partner with the existing senior leadership team to help the company achieve its growth objectives.”
“Voeller is well-positioned to capitalize on favorable long-term trends for concrete infrastructure spending,” said Charlie Rossetti, a Vice President at MPE. “Going forward, we will work with the company to broaden its product portfolio and expand the company’s footprint through both organic growth and add-on acquisitions.”
MPE invests in lower middle market companies that are valued from $25 million to $150 million and have EBITDAs between $5 million and $20 million. Sectors of interest include high-value manufacturing and industrial services. The firm has offices in Cleveland and Boston (www.mpepartners.com).
© 2017 Private Equity Professional | June 9, 2017