PLANO, Texas & RACINE, Wis.--(BUSINESS WIRE)--Willis & Smith Capital and its affiliates announced today the acquisition of R&B Grinding, LLC (“R&B”). The transaction closed on February 1, 2022.
Headquartered in Racine, Wisconsin, R&B is a leading manufacturer of machined components to a variety of industrial customers, including Fortune 500 original equipment manufacturers. Since its founding in 1958 by the Biddle Family, R&B remains a community pillar employing over 100 team members in its multi-acre manufacturing campus.
Willis & Smith Capital’s operating partner, Gene Simon, will serve as Chief Executive Officer. Several key members of the senior management team, including Barb Lange of the Biddle Family, will continue managing R&B’s various operating divisions.
“We are grateful of the trust the Biddle Family has placed in our team to ensure R&B’s long-term prosperity,” said Eric Willis and Terrence Smith, Co-Founders of Willis & Smith Capital. “We believe R&B’s family values and dedication to its employees, its community, and its clients speak for themselves.” Operating partner Gene Simon added, “I am energized to work alongside such a talented team as we dedicate our resources to further enhance R&B’s already impressive capabilities.”
The Biddle Family graciously added: “From our first meeting with Willis & Smith Capital, we were confident they were the optimal choice to help us transition the future of R&B. Our family sought a partner with significant manufacturing experience that could provide the necessary capital and strategic guidance to continue R&B’s legacy. Their core values of enhancing opportunities for our employees and their vision for growth align with ours. This transition will solidify a vibrant future for our employees, suppliers, and the Racine community.”
Taureau Group, LLC provided financial advisory services to R&B, while Boardman Clark, LLC, provided legal advice.
Reinhart Boerner Van Deuren s.c. provided legal advice to Willis & Smith Capital.
Willis & Smith Capital is a private equity firm focused on lower middle market companies with up to $200M in annual revenue. For more information, please visit www.willis-smithcap.com.
For more information about R&B, please visit www.rbgrinding.com.
