NORTON SHORES — A Milwaukee-based private equity firm has acquired Structural Concepts Corp., a manufacturer of refrigerated display cases in Muskegon County.
An executive at Mason Wells, a firm that typically invests in Midwest-based privately-held companies, told MiBiz that the acquisition of the Norton Shores-based Structural Concepts fits well with the company’s current growth strategy.
According to Jay Radtke, senior managing director of Mason Wells, Structural Concepts has “a good reputation” in its industry and is currently experiencing growth. Although he wouldn’t disclose the terms of the deal, Radtke said all employees and senior management at Structural Concept remain with the company.
“It was a good fit in terms of the size and the industry that they are in,” Radtke told MiBiz. “We’ve had a lot of experience with companies in similar industries. It’s actually a company we’ve been following for a number of years. … (and) the company is doing very well.”
Structural Concepts makes temperature-controlled food and beverage cases that can be found in cafes, restaurants, convenience stores and supermarkets.
Structural Concepts is the private equity firm’s only company in Michigan.
“Our employees have built a great business with an enviable track record of growth,” David Geerts, president of Structural Components, said in a statement. “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.”
As part of its investment approach, Mason Wells typically targets companies in engineered products and services, consumer packaged goods and packaging materials and converting companies.
Prior to Structural Concepts, the firm owned the Grand Rapids-based medical device and pharmaceutical packaging maker Oliver Products Co., which it sold in 2012.