Milwaukee U-Line Corp., the manufacturer of high-end undercounter ice-making and refrigeration appliances, has announced the addition of a new investor, Linsalata Capital Partners, a private equity firm that is based in Cleveland.
Terms of the transaction were not disclosed.
While Linsalata will "bring its financial management expertise and resources" to the company, U-Line's current management team will remain in place, according to company officials.
No changes will be made to either U-Line's business model or product distribution channels, the company added, noting that U-Line will also continue to be headquartered at its current site in Milwaukee.
"Our entire family is excited to announce U-Line's new investor," said president and CEO Phil Uihlein. "The recapitization of our business will enable us to strengthen and enhance the U-Line brand, expand our innovative product offering and stimulate our growth into new markets."
U-Line Corp. will become the 12th platform company in Linsalata
Capital Partners' current portfolio, according to its managing
director Mark Kirk.