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WADSWORTH WHITESTAR

  CONSULTANTS

ACQUISITION OPPORTUNITIES
MONARCH, LLC
Large Metal Fabrication
HUGHES EQUIPMENT, LLC
Food Processing Equipment
MEYER METAL SYSTEMS
Custom Architectural Metal Fabrication

Copyright ©2018 Wadsworth Whitestar.  All Rights Reserved.

Wadsworth Whitestar is currently advising several companies in pursuit of another successfully concluded sale.  If you are interested in any of the opportunities described below, please click the appropriate link or contact us for additional information.

Acquisition Opportunities
 

PROJECT "GREEN"

 

ONLINE & DIRECT MAIL B2B / BSC SUPPLIER

OUTDOOR PRODUCTS

Founded in 1939, the Company offers a broad range of outdoor products including workwear and boots, safety supplies, pest management products, sprayers, and agricultural supplies. In addition to outdoor industry customers including nurseries, small farms, landscapers, golf courses, and hotel maintenance departments, the Company has a broad consumer base regularly ordering online and through direct mail catalogs. The Company’s operations are based in a shared 300,000 Sq. Ft. leased facility located in south central Wisconsin. Annual sales in excess of $30 million with a product contribution margin of 42%. Ideal investment platform on which to build or as a strategic add-on.

§363 SALE OF THE ASSETS OF

HAMILTON ENGINEERING, INC.

U.S. BANKRUPTCY COURT

EASTERN DISTRICT OF MICHIGAN (DETROIT)

 

Hamilton Engineering, Inc. provides custom engineered water heating systems for a wide variety of commercial applications – from self-service laundries, hotel laundries, to apartment buildings, to hospital laundry facilities either direct or through a network of hot water specialist distributors.  Founded in 1981, the Company operates from a leased 76,000 Sq. Ft. facility located in Livonia, MI (suburban Detroit) and has approximately 40 employees. Sales in 2016 were approximately $7.35 million.

PROJECT "TOW"

 

ONLINE & DIRECT MAIL B2B SUPPLIER

SERVICE VEHICLE ACCESSORIES

Founded in 1979, the Company is a single source supplier of industrial-grade truck products, safety supplies and protective outerwear. Originally located on the East Coast of the U.S., the company relocated to south central Wisconsin in 2009 where it operates from a shared 300,000 Sq. Ft. leased facility. Niche, high volume product lines with over 110,000 active customers ordering product over the past five years.Annual sales over $22.5 million withproduct contribution margin of 39% and variable cost of 30%. Ideal investment platform on which to build or as a strategic add-on.

MEYER METAL SYSTEMS

Meyer Metal is a commercial architectural metal fabricator located in Elgin, Illinois.  For over 20 years the Company has been designing, fabricating and installing custom glass rail, pipe rail, balconies and more throughout Chicago and the suburbs.  Customers are primarily developers, contractors and builders. Past projects include installation of balconies in several high-rise hotels in Chicago, fabricating and installing custom glass rail on exterior rooftops and observations areas on several high-rise buildings in Chicago.  The Company operates from a 39,000 Sq. Ft. leased facility and has approximately 20 employees.  Annual revenues are in excess of $3 million. 

SALE OF THE ASSETS OF

MONARCH, LLC

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

Monarch, LLC specializes in the fabrication, machining, and assembly of large custom metal components up to 100 tons for customers in a variety of industries including mining, power generation, and defense. Founded in 1933, the company has approximately 45 employees and operates from a 67,000 Sq. Ft. production facility located in Milwaukee, WI. Sales peaked in 2012 at over $10 million with $1.2 million profit. For the 8 months ended August 31, 2019 sales were $3.6 million with a loss of $1.2 million.

SALE OF THE ASSETS OF

HUGHES EQUIPMENT, LLC

BY THE COURT APPOINTED RECEIVER, JOHN M. WIRTH

 

Hughes Equipment, LLC manufactures engineered food processing equipment for clients in the Fresh Market, Prepared/Ready-to-Eat Meals, Canning, Frozen Foods, and Seed Corn sectors. The company operates out of a 60,000 Sq. Ft. leased facility located in Columbus, WI. Sales for the prior 12 months were $5.5 million. Service part revenue is approximately $200,000. Hughes currently has quoted orders in excess of $1 million outstanding with food processing clients.

SALE OF THE ASSETS OF

ROSTAD ALUMINUM

BY THE COURT APPOINTED RECEIVER, JOHN M. WIRTH

 

Rostad Aluminum Corporation is a full-service permanent mold casting supplier offering die design through final casting services as well as machining services on vertical and horizontal machining and turning centers. Founded in 1953, Rostad operates from a 35,000 square foot facility in Grafton, WI and employs 17 people. Sales are approximately $2 million, with capacity of 5-8 million.

SALE OF THE ASSETS OF

IMPERIAL LAUNDRY SERVICES, LLC

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

Imperial Laundry Services, LLC (“Imperial” or the “Company”) services customers in the commercial laundry service industry for hospitals, hotels, and the food service industry. Founded in 1991, the Company has become one of the most respected customer-owned linen processors. Imperial is located in Racine, Wisconsin and operates out of a leased 35,000 square foot facility. Additionally, the company leases another facility in Racine which is used to process linens for its largest customer.

SALE OF THE ASSETS OF

APISCENT LABS, LLC

BY THE COURT APPOINTED RECEIVER, SETH E. DIZARD

 

Apiscent Labs LLC (“Apiscent or the Company”) is an established and trusted researcher, manufacturer and distributor of fine flavor and fragrance chemicals, as well as active ingredients and their building blocks used by the pharmaceutical industry.  Apiscent operates out of a 40,000 square foot facility in St. Francis, a Milwaukee suburb.  The Company owns a wholly owned subsidiary, FCI SAS located in Paris, France. Combined sales in 2017 were approximately $3,900,000 Worldwide sales include North America (US, Canada and Mexico), South America, Europe and Asia.

SALE OF THE ASSETS OF

TITLETOWN CHEESE TRADING COMPANY, LLC

BY THE COURT APPOINTED RECEIVER, SETH E. DIZARD

 

Titletown Cheese Trading Company, LLC (along with related entities: Fairplay Packaging and Conversion, LLC; Fairplay Packaging Plymouth, LLC; M&M Monroe Properties, LLC; and M&M Warehousing, LLC) (collectively “the Companies”)is an established reseller of cheese products, cold storage facility, and cut and wrap packaging operation. The Companies’ corporate office and trading operations operates from a leased facility in De Pere, Wisconsin. The cold storage operation is located in downtown Green Bay, Wisconsin. The packaging and conversion operation is located in Monroe, Wisconsin. 2018 Fiscal Year sales for each entity were Titletown - $15,529,844; M&M Warehouse (cold storage) - $301,438; Fairplay Monroe - $2,726,202 and Fairplay Plymouth - $403,662. These sales numbers include inter-company sales.

SALE OF THE ASSETS OF

APQ, LLC

BY THE COURT APPOINTED RECEIVER, SETH E. DIZARD

 

APQ, LLC dedicated to improving the quality of electrical power for commercial, industrial and utility systems. Based in Menomonee Falls, Wisconsin (suburban Milwaukee), APQ is a leading global innovator of products that enhance the protection, automation and quality of electrical power. APQ has been helping to achieve energy efficiency, reduce greenhouse emissions caused by wasteful harmonic energy and low power factor, while safeguarding essential equipment. 2018 Fiscal Year sales were approximately $1.5 million. Sales were made throughout the United States with major vendors located within the United States and Europe.

SALE OF THE ASSETS OF

ENSYNC, INC.

BY THE COURT APPOINTED RECEIVER, JOHN M. WIRTH

 

ENSYNC, INC. manufactured and distributed renewable energy systems and provided services with innovative and differentiated technologies designed to deliver the least expensive, highest value and most reliable electricity.  The Company served all three major markets in the renewable energy space:  Residential Energy Systems, Commercial Energy Systems and Independent Utility Energy Systems.  The Company often utilized a 20-Year Power Purchase Agreement (“PPA”) structure in which the end user contracts to purchase electricity from a third-party buyer of the PPA who owns the completed system. Energy Systems were also sold directly to end users.

SALE OF THE ASSETS OF

ADAPTIVE MICRO SYSTEMS, LLC

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

Adaptive Micro Systems, LLC designs, develops and manufactures electronic message centers, programmable light emitting diode (“LED”) displays and related software solutions from the Company’s headquarters in Milwaukee, WI.  Adaptive sells standard and custom LED displays for both indoor and outdoor applications to the commercial, productivity, OEM, transportation/highway, and theatre markets through a direct sales force and a network of resellers/dealers. The Company is headquartered in a modern company-owned 70,000 square foot facility where it employs approximately 45 people in light assembly, order fulfillment, administration and sales. Adaptive’s primary manufacturing operation is a subsidiary (Adaptive Micro Systems Malaysia, Sdn Bhd) located in Alor Setar, Kedah Malaysia (“AMSM”). The Company’s consolidated revenues was $10.1 million in Fiscal Year 2018.

SALE OF THE ASSETS OF

TARGET CORPORATION

BY THE COURT APPOINTED RECEIVER, SETH E. DIZARD

 

Target Corporation is a full-service printed circuit board assembly and electronics manufacturer with strong core competencies in military and defense applications. Founded in 1964, the Company operates from a 21,000 Sq. Ft. facility located in Pleasant Prairie, WI and has approximately 20 employees. Sales in 2015 were over $4.5 million. Current backlog is over $1.2 million.

SALE OF THE ASSETS OF

SERVICE LITHO-PRINT, INC.

BY THE COURT APPOINTED RECEIVER, SETH E. DIZARD

 

Service Litho-Print, Inc. is a custom printing business specializing in production of specialty packaging, clamshell packaging, lenticular printing, decals and POP solutions on a variety of substrates including paperboard, PVC, wood, plastics, foils and paper wraps. The Company is leases a 37,000 Sq. Ft. facility in Oshkosh, WI where it operates 2 KBA 6-color sheetfed offset presses and employees approximately 39. Annualized sales are approximately $8.5 million, down from a peak of $11 million in 2013.

SALE OF THE ASSETS OF

VAL-FAB, INC.

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

Val-Fab, Inc. fabricates ASME pressure vessels, process tanks, heat exchangers, reactors, military components, and other weldments. The company operates a 60,000 Sq. Ft. production facility located in Neenah, WI. Founded in 1984. Sales in 2015 were approximately $2.5 million.

SALE OF THE ASSETS OF

PRISM MANUFACTURING, LLC

BY THE COURT APPOINTED RECEIVER, RONALD M. CARLSON

 

Precision screw machining business located in West Bend, WI primarily serving the lawn & garden, heavy equipment, sporting goods, healthcare, and industrial sectors. The Company machines a wide variety of custom components from steel, brass, aluminum, and plastic.  Revenues in 2015 were approximately $2.8 million with EBITDA of ($250,000).

SALE OF THE ASSETS OF

CARY FRANCIS GROUP, INC.

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

Promotional products firm located in Franklin, WI specializing in the marketing and fulfillment of licensed promotional products and apparel for Fortune 500 clients such as Goodyear, John Deere, GMC and Grainger. Revenues in 2015 were approximately $15 million with a net loss of ($500,000)

SALE OF THE ASSETS OF

LOEB-LORMAN METALS, INC.

BY THE COURT APPOINTED RECEIVER, RONALD M. CARLSON

 

One of Wisconsin's largets scrap metal processing companies with locations in Fort Atkinson, Watertown, and Reedsburg, WI and an additional facility located in Argos, IN.  Sales in 2014 were approximately $86.8 million, down from more than $100 million in 2012.  The company has approximately 85 employees across its four locations.

SALE OF THE ASSETS OF

ROLLCAST, LLC

d/b/a Advance Die Casting Company

BY THE COURT APPOINTED RECEIVER, RONALD M. CARLSON

 

An established aluminum die casting company located in Milwaukee, WI serving customers throughout the United States, Europe, and Asia. Sales in 2014 were approximately $11 million. Advance operates out of two company owned facilities located on the near-Northside of Milwaukee with a total of 110,000 square feet of production space. The company currently employs approximately 75, with a number of employees having over 20 years experience in the industry.

SALE OF THE ASSETS OF

FONTAROME CHEMICAL, INC.

BY THE COURT APPOINTED RECEIVER, RONALD M. CARLSON

 

A researcher, manufacturer, and distributor of flavor and fragrance chemicals, as well as active ingredients and their building blocks used by the pharmaceutical industry. The company operates from a 40,000 square foot facility in St. Francis, WI and a wholly owned subsidiary (FCS, SAS) located in Paris, France. Combined sales in 2013 were approximately $8 million to customers located in North America, South America, Europe, and Asia.

SALE OF THE ASSETS OF

TRAMONT CORPORATION

BY THE COURT APPOINTED RECEIVER, MICHAEL S. POLSKY

 

A metal fabrication business specializing in the design and manufacture of UL Listed diesel fuel day tanks and sub-base tanks for industrial generators. The company also designs and manufatures weather-protected and sound insulated generator set enclosures, fuel tank trailers, and full packaging solutions for the standby power generation industry. Tramont sells to a group of the industry's leading OEM customers including CAT, Kohler, Cummins, and Generac. Sales peaked in 2006 at $31 million, but have fallen steadily to approximately $18 million in 2013.  The company has approximately 130 employees (94 represented by UE Local 1103) and operates out of two leased manufacturing facilities in Milwaukee with total production space of over 245,000 square feet.