Mason Wells has closed on its acquisition of Structural Concepts Corporation (SCC) in partnership with members of the company’s senior management team and other co-investors.
SCC is a designer and manufacturer of temperature-controlled food and beverage display cases for foodservice establishments and supermarkets. The company was founded in 1972 by James Doss and is headquartered in Muskegon, MI (www.structuralconcepts.com).
“SCC is a leader in supplying the growing grab-n-go, fresh prepared food and beverage refrigerated merchandiser markets,” said Jay Radtke, a Senior Managing Director at Mason Wells. “We believe SCC is well positioned to grow through attractive growth trends, leading product development capabilities, a trusted 45-year-old brand, state-of-the-art manufacturing facilities and a world-class workforce and management team who we plan to back with additional resources for growth.”
Mason Wells acquired SCC from James Doss, his family, and members of the company’s management team. “Structural Concepts is a company we have tracked and admired for a number of years and the company fits very well with Mason Wells in terms of family ownership, our industry knowledge and Midwestern headquarters,” added Mr. Radtke.
“This is an exciting time for Structural Concepts,” said David Geerts, President of SCC. “Our employees have built a great business with an enviable track record of growth. Mason Wells will provide Structural Concepts with a seamless ownership transition and with resources to help the company to achieve great things. All current shareholders, including myself, are so excited about Mason Wells’ plans for our future that we have all chosen to reinvest in the business.”
Mason Wells makes investments in Midwest-based companies with revenues of $25 million to $300 million and EBITDAs of $5 million to $30 million. Sectors of interest include consumer packaged goods; packaging materials and converting; outsourced business services; and engineered products and services. In February 2016, Mason Wells held a final closing of Mason Wells Buyout Fund IV and its related Executive Buyout Fund IV with total commitments of $615 million. The firm was founded in 1998 and is based in Milwaukee (www.masonwells.com).
© 2018 Private Equity Professional | October 10, 2018