CLEVELAND and BOSTON, June 7, 2017 /PRNewswire/ -- Morgenthaler Private Equity ("MPE") announced today the recapitalization of Voeller Mixers, Inc. ("Voeller" or "the Company"), a leading manufacturer of batch plants and mixing equipment for concrete, glass, and related industries. In addition to equipment sales, Voeller offers aftermarket parts and services for its mixers and batch plants.
MPE partnered in the transaction with the existing shareholders, including President Ted Burbach and Vice President Mike Haggenjos. Going forward, Mr. Burbach and Mr. Haggenjos will continue to serve in senior leadership roles at the Company. In addition, MPE Senior Advisor Butch Sumpter will serve as the Company's Chairman.
Joe Machado, Partner at MPE, said, "We were attracted to Voeller due to the Company's high-quality products and reliable aftermarket parts and services. 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."
Charlie Rossetti, Vice President at MPE, said: "Voeller is well-positioned to capitalize on favorable long-term trends for concrete infrastructure spending. We will work with the Company to enhance and broaden its product portfolio. We will also seek acquisitions to accelerate growth and expand the Company's footprint."
Ted Burbach said, "Mike and I have enjoyed growing Voeller into one of the leading companies in our industry over the past 13 years. We are eager to embark on our next phase of growth in collaboration with MPE."
Mintz Levin served as legal advisor to MPE. Duff & Phelps provided transaction advisory services.
About Voeller Mixers, Inc.
Headquartered in Port Washington, Wisconsin, Voeller Mixers, Inc. was founded more than 60 years ago as a machine job shop. Today, the Company designs and manufactures batch plants and mixing equipment for concrete, glass, fiberglass, flyash, and refractory industries. Each batch plant and mixer is custom designed to meet unique specifications. Voeller's products can be found across the United States and international locations.
About Morgenthaler Private Equity
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 - $20 million. MPE has two primary target investment areas: high-value manufacturing and industrial services. For more information, please visit www.mpepartners.com.
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SOURCE Morgenthaler Private Equity