Mason Wells Newsletter 2017 – Volume 4
October 1 2017
- Mason Wells Acquires L.B. White Company, LLC
- King Juice Company, Inc. Announces New CEO
- MGS Mfg. Group, Inc. Announces New CEO
- Nelipak Healthcare Packaging Featured in Medical Plastics News
- Retirement/New Hire Announcement at Mason Wells
On September 12, 2017, Mason Wells announced that it closed on the acquisition of L.B. White Company, LLC, headquartered in Onalaska, Wisconsin. This is the third investment for Mason Wells Buyout Fund IV.
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 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 the 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.
“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 Chief Financial Officer of L.B. White.
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. Mr. Gagermeier is and has served as CFO since 2007, and will replace Rick Diermeier as President and Chief Executive Officer when Mr. Diermeier retires in October. Following the transition of duties to Mr. Gagermeier, Mr. Diermeier will continue to serve as a member of the Board of Directors of the Company. All other employees will remain with the business.
For more information, please visit the Company’s website at www.lbwhite.com.
King Juice Company, Inc., a Mason Wells Buyout Fund IV portfolio company, announced that David Klavsons has joined the Company as Chief Executive Officer. King Juice is the manufacturer and marketer of the Calypso brand of lemonade drinks and a leading co-manufacturer of nonalcoholic beverages. The Company is headquartered in Milwaukee, Wisconsin.
Mr. Klavsons joins Jeff Outlaw, the President of Calypso Brands, and the rest of the management team at King Juice in driving the growth of the Calypso brand as well as the growth of co-manufacturing of non-carbonated beverages.
Mr. Klavsons has over 30 years of senior executive experience in the food and beverage sector, having held leadership positions with companies such as Glanbia Performance Nutrition, Hess Corporation (convenience retail), Kraft, Nabisco, and Frito-Lay. Most recently, Mr. Klavsons was President of Glanbia Performance Nutrition (“GPN”) North America, where he oversaw a portfolio of brands including Isopure®, Optimum Nutrition, BSN®, thinkThin®, and other nutrition brands. During his time at GPN, Mr. Klavsons was responsible for all aspects of the business and successfully drove growth through revamped marketing programs, accelerated innovation, and acquisition integration. Prior to GPN, Mr. Klavsons spent time in the convenience retail channel, serving in several leadership roles for Hess Corporation’s convenience store business including Vice President of Operations and Chief Marketing Officer.
Jeff Outlaw, the President of Calypso Brands commented, “David has a significant depth of experience in strategy, sales, and operations within the food and beverage industry combined with strong leadership qualities. We are looking forward to working with David as we expand upon Calypso’s leading position within the flavored lemonade category through enhanced sales, marketing, and innovation initiatives.”
“I am honored and excited for the opportunity to lead King Juice,” said Mr. Klavsons. “The combination of the Calypso brand and its leading position in the flavored lemonade category, the Company’s unique manufacturing capabilities, and the nationwide independent DSD distribution network provides a strong, differentiated platform for growth and innovation. I am looking forward to joining the rest of the management team to build the Calypso brand and our co-manufacturing capabilities.”
For more information, please visit the Company’s website at www.drinkcalypso.com.
MGS Mfg. Group, Inc. a Mason Wells Buyout Fund IV portfolio company, recently named Greg Adams as its new Chief Executive Officer. MGS is a global manufacturer of injection molded plastic components, tooling, and equipment for healthcare, electronics, automotive, and other end markets.
Mason Wells is pleased to welcome Mr. Adams to MGS. Mr. Adams is a highly accomplished leader with a strategic mindset and operational experience well-suited to guide MGS through its next phase of growth. His combination of plastics experience and Midwestern values will allow a fast start.
Mr. Adams joins MGS following four years as President and CEO of Tenere Inc., a custom manufacturer of complex metal and plastic assemblies. Before joining Tenere, he spent 15 years at Nypro, which is now a subsidiary of Jabil Circuits. His roles at Nypro included Chief Financial Officer, Chief Technology Officer, and General Manager of Nypro North America. Mr. Adams holds a BS degree in Economics from Michigan State University, an MS degree in Manufacturing Engineering from Worcester Polytechnic Institute, and an MBA from the University of Michigan.
“I am very excited to join MGS, which is poised for further growth with tremendous capabilities and customers, and strong backing from Mason Wells,” said Mr. Adams. “I’m delighted to return to precision plastics and look forward to working with the MGS team to help convert its many opportunities into successful customer solutions.”
For more information, please visit the Company’s website at www.mgstech.com.
On September 25, 2017, Nelipak Healthcare Packaging, a global provider of custom thermoformed packaging that provides superior protection for medical devices and pharmaceuticals, was featured in Medical Plastics News. Nelipak recently set up a relief fund to help those suffering from the hurricane disaster in Puerto Rico. The Company operates across ten global facilities including two in Puerto Rico which is home to over 70 medical manufacturers including Abbott, Medtronic, Pfizer, Johnson & Johnson, and others. There were a number of these medical manufacturers impacted by the damage caused by Hurricane Maria. The island was recently hit by a category 5 hurricane, knocking out power to many of Puerto Rico’s 3.4 million residents. The storm has caused severe damage to the power infrastructure.
For more information, please visit the Company’s website at www.nelipak.com.
After 23 years of outstanding contributions and dedication, Mason Wells Office Administrator & Corporate Secretary JoAnne Vaughn will be retiring on December 31, 2017. JoAnne has been a valued member of the organization since she joined M&I Capital Markets Group in 1994 and made the transition to Mason Wells in 1998. She has been instrumental in investor communications, office administration, and managing all aspects of corporate records.
JoAnne’s retirement is our loss, but a well-deserved respite for her! We all wish JoAnne the very best in her next chapter.
We are pleased to announce the hiring of Ms. Debbie Figueroa as the new Office Manager and Fund Administrator for Mason Wells. At this time, JoAnne is working with Debbie in transitioning duties through the end of the year. Debbie will be responsible for all areas of Human Resources for Mason Wells. Her duties will also include corporate recordkeeping, compliance, and benefits administration. Debbie will be responsible for all areas of fund administration and office administration. She will take over as the assistant to the Executive Managing Director and assist the Chief Financial Officer in coordinating investor communications.
Ms. Figueroa brings with her over 24 years of office administration experience. Prior to joining the Mason Wells team, Ms. Figueroa held the position of Office Administrator / Controller for 22 years at R&B Receivables Management Corporation in Waukegan, Illinois. Her past experience includes human resources, benefits administration, payroll, accounting, client contract administration, vendor maintenance, and maintaining corporate records. Ms. Figueroa graduated cum laude from Carthage College with a Bachelor of Arts in Political Science and holds a certificate in Paralegal studies.