Mason Wells Acquires L.B. White Company
Milwaukee WI, September 12 2017
Mason Wells announced today that it has closed on the acquisition of L.B. White Company, LLC. (“L.B. White” or the “Company”). The company will be owned by Mason Wells, current management, and other co-investors.
L.B. White is a manufacturer of branded forced-air, radiant and variable rate heating equipment and parts for the global swine, poultry, and construction markets. Over L.B. White’s 65-year history, the Company has become a leader in the global swine and poultry heating markets. The Company is at the forefront of confinement heating design and innovation and sets the industry standards for quality, reliability, and service. Swine and poultry growers depend on L.B. White’s heating solutions to maintain required temperature and ventilation rates to support animal health at various ages, weights, and densities. Construction and outdoor hospitality customers use L.B. White’s commercial-grade portable heaters for temporary heating needs. The Company’s headquarters and manufacturing facility is located in Onalaska, Wisconsin.
The Company was previously owned by Rick Diermeier, Jeff Diermeier, and Kevin Gagermeier. The employees and suppliers of L.B. White have played an integral role in the Company’s growth and success and will continue to do so in the future.
“This is an exciting time for L.B. White. Our employees have built a great business with an enviable track record of growth. Kevin has been preparing for this transition and is well positioned to succeed. Mason Wells will provide L.B. White with resources to help the company to achieve great things”, said Rick Diermeier, CEO of L.B. White.
“This is an exciting period for L.B. White. Our ability to innovate, manufacture, and distribute our mission-critical products on a global scale provides a strong platform for growth. We are thrilled to be partnering with Mason Wells to help us grow given their strong financial backing and other resources that will fuel our ability to continue serving our customers with high-quality products”, said Kevin Gagermeier, President, and CFO of L.B. White.
Since 1998, Mason Wells has invested in numerous Midwest-based, privately-held companies in the engineered products and services industry supporting ownership and leadership transitions.
“We are extremely impressed with the workforce, sales force, and management team at L.B. White, the industry-leading product development capabilities, and the Company’s market position in swine and poultry heating. These key factors along with the relationships that L.B. White has forged with its customers and suppliers have enabled the business to achieve a high level of success over the past 65 years. We are excited to support the team at L.B. White to continue growing the business through strong customer service, quality products, and innovation” said Jay Radtke, Managing Director at Mason Wells.
Based in Onalaska, Wisconsin, L.B. White is a manufacturer of branded forced-air, radiant and variable rate heating equipment and parts for the global swine, poultry, and construction markets. Over L.B. White’s 65-year history, the Company has become a leader in the global swine and poultry heating equipment and parts markets. For more information, please visit the L.B. White website at www.lbwhite.com.
Mason Wells is a leading Midwest-based private equity firm with approximately $1.0 billion in assets under management across its current private equity funds. Mason Wells is currently investing out of Mason Wells Buyout Fund IV, a $615 million fund. Since Mason Wells was formed in 1998, its buyout funds have invested in four specific industry sectors: Consumer Packaged Goods, Outsourced Business Services, Engineered Products & Services, and Packaging Materials & Converting. For more information related to Mason Wells, please visit the firm’s website at www.masonwells.com.