Mergers & Acquisitions

Last updated on May 13th, 2019 at 02:40 pm

Milwaukee M&A firms merge

Two Milwaukee mergers and acquisitions companies have themselves merged. Emory Business Advisors LLC has acquired L. William Teweles & Co.

The merged firms are now operating under the name Emory & Co. and work from Emory’s offices at 611 N. Broadway, Suite 210, in downtown Milwaukee.

The combined firm has 13 employees. The employees of L. William Teweles & Co. have been retained at Emory & Co., including L William Teweles.

L. William Teweles & Co. was founded in 1973, specializing in M&A and raising capital in agriculture-related businesses. Emory was founded in 1999 as an investment banking firm focusing on M&A and business valuations.

The firms negotiated more than two years before the merger was completed.

“I have a great deal of respect for the Emory professionals, and when I thought about transitioning my practice, Emory was the only M&A firm in town I considered,” Teweles said.

Because the two firms had worked closely together on deals and referrals for several years before considering the merger, it was an easy transition, according to John Emory, Jr., president and chief executive officer of Emory & Co.

“We have had a good relationship with Bill Teweles for many years, and it just made sense to combine our M&A practices,” Emory said. “We are thrilled to have Bill and his team join forces with us.”

Kentucky company to acquire Oak Creek plant

Covington, Ky.-based Ashland Inc. announced it has signed a definitive agreement to purchase the assets of Northwest Coatings, which operates a plant in Oak Creek.

Northwest Coatings is a formulator and manufacturer of adhesives and coatings employing ultraviolet and electron beam polymerization technologies. The company, which also has a plant in Greensboro, N.C., is a holding of Caltius Equity Partners.

The transaction is valued at approximately $72 million. Trailing 12-month sales of Northwest Coatings are nearly $40 million.

“This is an important acquisition for us in a high-growth, attractive market segment,” said James O’Brien, chairman and chief executive officer of Ashland Inc. “It demonstrates our strategy to pursue acquisition opportunities in markets and technologies that are experiencing rapid change.”

All of the employees in Oak Creek will be retained when the transaction is closed, presumably by the end of the year, according to Craig Heim, vice president of Grace Matthews Inc., a Milwaukee mergers and acquisitions consultant company that represented Northwest Coatings in the negotiations.

Entrepreneurs acquire advertising franchise

Two former executives of Journal Sentinel Inc. have purchased the Milwaukee area franchise for AllOver Media, a non-traditional advertising organization with outdoor and indoor locations throughout southeastern Wisconsin.

Todd Adams and Rich Dobson acquired the franchise from G2 Adventure LLC principals Brad Gardner and Steve Glassbrenner. Financial terms of the acquisition were not disclosed.

Headquartered in Maple Grove, Minn., AllOver Media provides outdoor and indoor media solutions to reach captive audiences where they live, work and play. The Milwaukee franchise includes gas pump, indoor and outdoor print and taxicab marketing solutions throughout Milwaukee, Waukesha, Ozaukee and Washington counties.

AllOver Media has restroom advertising locations in more than 160 Milwaukee-area family restaurants, nightclubs and sports bars, as well as at the Bradley Center.

“Our ads are not channel-surfed or paged through – there is nothing to compete with their attention,” Dobson said.

“Our media outlets are tremendous vehicles for building brand awareness with captive consumers, as well as delivering key audience-specific sales information,” Adams said. “AllOver Media is a proven means for companies to expand their marketing efforts in the growing segment of non-traditional advertising as traditional advertising continues to be more and more fragmented.”

The local franchise will open an office at 10125 North Ave. in Wauwatosa.

Aries Industries acquires Canadian company

Aries Industries Inc., a Waukesha-based manufacturer of pipeline inspection, grout rehabilitation and cutting systems for the water, sewer and natural gas industries, has completed its purchase of Sewer Depot Inc. of Mississauga, Ontario, Canada.

The new company will immediately begin operating as Aries Canada Ltd. and will continue to manufacture sewer pipeline inspection equipment, plus provide sales, service and parts support from the Mississauga facility.

“This represents a great opportunity for both Aries and Sewer Depot, and I am proud to be a part of the Aries family of fine companies,” said Tal Akermanis, who founded Sewer Depot in 1997.

“We are delighted to have Sewer Depot join Aries Industries. It will provide us with technology, products, staff, and facilities to further expand our business in North America and internationally,” said Jim Lenahan, chief executive officer at Aries Industries.

In addition to its Waukesha headquarters, Aries has sales, service, parts and manufacturing facilities in Fresno, Calif., and Pompano Beach, Fla.

Chicago company acquires Evergreen Title of Brookfield

Chicago Title Insurance Co., a national provider of title insurance and real estate services, is acquiring Evergreen Title Corp., a Brookfield-based title insurance agency.

The Evergreen office at 210 Regency Court in Brookfield will be closed, and the acquired company will operate out of the Chicago Title regional headquarters at 20900 Swenson Drive in Waukesha.

“We have worked with Evergreen Title for many years, and we know the team there as an experienced, highly professional group,” said Richard Smith, vice president and area manager for Chicago Title. “Now that it’s part of Chicago Title, Evergreen Title’s customers can count on continued high quality service.”

Charlie Hall, owner of Evergreen Title, is joining Chicago Title as a senior account executive, along with several other Evergreen Title employees. Financial terms of the acquisition were not disclosed.

“Everyone who works with us – including real estate brokers, bankers and attorneys – counts on Chicago Title for its industry leadership, its long-term stability, and its top quality offerings. As we grow, our focus remains on providing the very best products and services,” Smith said.

This latest acquisition is part of Chicago Title’s continued expansion in this region. The company has opened new branch offices in Mequon and West Bend over the last two years.

Local Red Cross chapters to merge

The American National Red Cross Board of Governors has approved a request by the boards of directors of the Greater Milwaukee and the Southeast Wisconsin Tri-County Red Cross chapters to merge the two operations.

The merger will enable Red Cross to provide services to communities throughout southeastern Wisconsin in a more efficient and effective way by consolidating administrative and other back office operations and sharing human and material resources, according to Red Cross officials.

The newly formed American Red Cross in Southeastern Wisconsin, serves nearly 2 million people in the communities of Dodge, Jefferson, Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha through the work of more than 4,000 volunteers. Additional information is available at

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