Milwaukee business executive Kevin Seiberlich and Hamilton Henry Capital have acquired Waukesha-based V&L Tool Inc.
Seiberlich, chief executive officer of Milwaukee-based Optimus Financial Services LLC will also serve as president and chief executive officer of the company.
“It’s been around since the ’60s and it’s got a solid reputation in the industry and it’s got a great framework for us to be able to grow it,” Seiberlich said. “We’re really looking at existing customers and how we can grow with them and new customers.”
V&L, which offers advanced manufacturing and complex assemblies, has more than 65 employees, and Seiberlich plans to increase employment by 20 percent in the first quarter of 2015. The manufacturer has a 150,000-square-foot main facility with CNC manufacturing and assembly capabilities. It primarily serves the advanced medical equipment, power generation, manufacturing, hydraulics and agriculture industries.
“V&L is at the forefront of the complex machining and assembly work that underpins a resurgence in American manufacturing,” Seiberlich said. “That’s a testament to the remarkable expertise and dedication of the V&L team, which has been running at full capacity since our purchase.
“V&L is positioned extremely well to grow with our new and current customers due to our strong market position and talented employee base. Add our positive financial position and the potential for value-add acquisitions and the company’s prospects are very bright.”
“Growth at the company is already driving new hiring and we will hold a job fair in the near future to meet the need,” said Jenny Schlut, human resources manager. “We’re actively recruiting experienced CNC set-up operators, particularly candidates who have turning and machining center experience.”
Terms of the transaction were not disclosed.