Milwaukee-based private equity firm Mason Wells has acquired Muskegon, Michigan-based Structural Concepts Corp., along with management team members and other co-investors. The company was sold by James Doss, his family and other managers.
[caption id="attachment_132332" align="alignright" width="300"] Mason Wells is located in the 411 Building at 411 E. Wisconsin Ave. in downtown Milwaukee.[/caption]
Doss founded Structural Concepts in 1972. The company designs and manufactures refrigerated cases used by supermarkets to merchandise cold food and beverages in an appealing way while minimizing operating costs. The company has a focus on research and development to innovate new products.
Mason Wells has about $1 billion in assets under management in its current private equity funds. It is currently investing out of its $615 million Mason Wells Buyout Fund IV. It targets consumer packaged goods, outsourced business services, engineered products and services, and packaging materials and converting companies.
The private equity firm said Structural Concepts’ employees “have played an integral role in the company’s growth and success,” and will continue to do so in the future, but did not provide specifics on integration impacts or changes.
“This is an exciting time for Structural Concepts,” said David Geerts, president of SCC. “Our employees have built a great business with an enviable track record of growth. 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."
“Structural Concepts is a company we have tracked and admired for a number of years and the company fits very well with Mason Wells in terms of family ownership, our industry knowledge and Midwestern headquarters. SCC is a leader in supplying the growing grab-n-go, fresh prepared food and beverage refrigerated merchandiser markets. We believe SCC is well positioned to grow through attractive growth trends, leading product development capabilities, a trusted 45-year-old brand, state-of-the-art manufacturing facilities and a world-class workforce and management team, who we plan to back with additional resources for growth,” said Jay Radtke, senior managing director at Mason Wells.