Equity Firm Backing U-Line

Equity Firm Backing U-Line

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.