WEM Automation purchased by Madison acquisition firm
New Berlin-based WEM Automation has been purchased by The Mendota Group, a Madison-based acquisition firm.
Pentvia Partners LLC, Milwaukee, advised WEM Automation shareholders in the transaction. The purchase price was not disclosed.
A limited liability company chaired by Curtis Burgess of The Mendota Group this month raised $3.6 million in a private offering of debt and equity, according to US Securities and Exchange Commission documents.
WEM designs and develops software and control systems for industrial process automation and data collection, particularly in animal feed and the asphalt manufacturing markets.
WEM recently formed a joint venture with the Muyang Group, a Chinese producer of feed milling equipment, that WEM says strengthens its position in the process control systems market.
“For the past 25 years WEM has made it a priority to do whatever was needed to take care of customers,” said Ernie Bollinger, WEM chairman and CEO. “My goal was to find a buyer that would nurture and grow the business, while continuing to take the best care of our customers and employees. Mendota Group was a perfect fit.”
The Mendota Group and its co-investors acquire small- to medium-sized manufacturing, distribution and service businesses that are either privately owned or subsidiaries of public companies.
Source: Milwaukee Business Journal
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