THE BUYER: RELCO, LLC – RELCO, established in 1982, designs, manufactures and installs high quality stainless steel equipment. The company’s core business is dairy processing equipment. RELCO also serves the food and pharmaceutical industries. RELCO, which serves customers globally, is headquartered in Willmar, Minnesota, and has a sales and manufacturing shop in Drachten, Netherlands, and a sales office in Auckland, New Zealand.
THE SELLER: Stoelting Process Solutions, a Division of The Vollrath Company, LLC – Stoelting, founded in 1905, is headquartered in Kiel, Wisconsin, and has sales and service operations worldwide. The company designs and manufactures a full line of USDA approved cheese making equipment. Its product line integrates directly with RELCO’s existing cheese plant products, which include milk receiving and storage, pasteurizing/standardization, cheese plant automation, and whey processing systems.
THE TRANSACTION – RELCO, a former client of Quazar’s, was interested in expanding its offerings in the dairy industry; to accomplish this, RELCO retained Quazar to advise on the acquisition of Stoelting.
POST-TRANSACTION PLANS – The Stoelting brand name will be retained and sold globally. Key Stoelting employees have been retained by RELCO. Manufacturing will continue at the Kiel location for a period of up to six months, at which time the operation will be moved to RELCO’s Willmar facility.
QUOTES: what the parties are saying –
“This acquisition allows RELCO to expand our offering of equipment to the cheese processing industry, providing a total turnkey package from milk receiving through whey processing including automation and installation,” said Loren Corle, President at RELCO.
“The sale of the Process Solutions Division to RELCO, a long time marketing partner of Stoelting, will allow us to provide more focus on the considerable opportunities that exist in our growing foodservice equipment and cleaning equipment businesses,” said Bob Oonk, Executive Vice President and General Manager.
CLIENT QUOTE – “Thank you for your assistance in the purchase! We found the value you added well worth the fee,” said Loren Corle, President at RELCO.