Mason Wells buys Michigan company
Mason Wells announced it has acquired Oliver Products Co. of Grand Rapids, Mich., through the Mason Wells Buyout Fund II, Limited Partnership.
Downtown Milwaukee-based Mason Wells acquired 100 percent of the equity of the company from the fourth-generation owners and operators of the firm. Oliver traces its roots back to predecessor companies founded in Grand Rapids in the late-1880s.
“Oliver’s reputation and commitment to quality and service provide the foundations for continued growth opportunities in global markets,” said Greg Myers, managing director at Mason Wells. “Employees and suppliers of Oliver, as well as the Grand Rapids community, have played an integral role in the company’s success and will continue to do so in the foreseeable future.”
“Mason Wells is an outstanding fit because they focus on Midwest-based businesses with strong market positions driven by proprietary processes, product design, and customer relationships,” said John Green, president of Oliver Products’ Medical Business. “Partnering with experienced packaging industry investors whose approach consistently has produced exceptional results creates an opportunity for more rapid achievement of Oliver’s business and financial goals.”
Since the mid-1980s, Mason Wells has invested in more than 10 packaging and paper sector companies.
Senior financing for the transaction was provided by M&I Bank and US Bank. Mezzanine and co-investment financing was provided by BMO Private Equity.
Founded in 1982 as a subsidiary of Marshall & Ilsley Corp., Mason Wells became an independent firm in 1998.
Associated Bank completes acquisition of Hudson bank
After receiving approval from the Federal Reserve, Associated Banc-Corp has acquired First National Bank of Hudson.
The combined company will expand Associated’s presence in both western Wisconsin and in the Twin Cities metro area in Minnesota. With the acquisition, Associated will have 26 offices in the greater Twin Cities area and 35 total when including all Minnesota and Hudson area locations.
“This acquisition adds to the strong foundation already established by Associated in western Wisconsin and the Twin Cities metro area,” said Paul Beideman, chairman and CEO of Green Bay-based Associated. “This business combination will make Associated even more convenient for our customers in this rapidly growing and dynamic area. First National Bank customers will be pleased by Associated’s additional branches and ATM locations and an expanded offering of services.”
First National Bank, based in Woodbury, Minn., is a $0.4 billion community bank with eight banking locations. Established in 1863, the bank has served customers for 144 years. Ken Heiser, president and CEO of First National Bank, is continuing with Associated, serving as Hudson market president.
“As we near the completion of the merger of our companies, the benefits of the consolidation are becoming even more obvious,” Heiser said. “I continue to be very excited about the added services and convenience that will soon be available to our customers.”
Twin Disc merges Italian operations
Racine-based Twin Disc Inc. announced the merger of its Italian operations into one single legal entity, Twin Disc Srl. The new entity combines Twin Disc Technodrive Srl, Twin Disc Srl, BCS Srl and BCS Service Srl.
Headquartered in Decima, Italy, Twin Disc Srl will be co-managed by Carlo Contri and Saverio Cecchi. Most recently, Contri was the managing director of Twin Disc Technodrive Srl. Cecchi was the managing director of BCS Srl and BCS Service Srl, both of which were acquired as part of the BCS Group by Twin Disc in May 2006.
John Batten, executive vice president of Twin Disc and president of the Twin Disc Srl board of directors, said, “The merger of our Italian entities will allow the company to have one common approach to the Italian market, the second-largest market for the company outside North America. Additionally, the merger will create one management structure, including finance, IT, human resources, sales and marketing, supply chain management, customer service and engineering. Each of the entities participating in the merger brings its own specialties to Twin Disc Srl, and we intend to learn from each other to create one skill set that is truly best practice in our markets.”
Milwaukee publisher fulfillment companies merge
Milwaukee-based Publisher’s Mail Service Inc. has acquired a competitor, Diversified Mail & Fulfillment Specialists LLC.
Publisher’s Mail Service provides mailing list rentals for consumer and business lists, mailing list data processing, personalized laser printing, and mail processing services for direct mail marketing.
Diversified Mail & Fulfillment Specialists provides fulfillment of literature, as well as the majority of the services currently offered by Publisher’s Mail.
The two companies have been competitors in the mail industry since Publisher’s Mail Service was founded in 1948.
“After being friendly competitors for the past 50-some years, it’s an exciting time in a long relationship between our companies that will provide our customers with many new marketing opportunities,” said Merle Webb, president of Publisher’s Mail Service.
The name of the combined company will remain Publisher’s Mail Service Inc. until management can create a suitable combined name.
The combined companies will operate out of the facility of Publisher’s Mail Service at 10545 W. Donges Court in Milwaukee.
The management of both companies will all be staying under guaranteed contracts, aside from one person who did not wish to make the transition, Webb said.
Webb declined to comment on the number of jobs that could be eliminated with the merger, but he said 14 employees from Milwaukee-based Diversified Mail & Fulfillment Specialists would join with 18 employees at Publisher’s Mail Service to create a new workforce.
The acquisition will expand the services offered by the two companies, Webb said.
“We’re looking forward to expanding the list of services we offer and making it even more convenient for our customers to get all of their fulfillment and direct mail processing needs completed under one roof,” Webb said.
