August 3, 2024 [Madison, Wisconsin]: Madison Lake Capital is pleased to announce the buyout of Gilman USA, a 72-year-old trusted brand in providing linear and rotary motion solutions. The company’s key products are its own-name brand spindles and slides. Terms of the transaction were not disclosed.
Gilman’s brand recognition and company culture of innovative engineering solutions first approach has garnered them a broad client base, both local and international. Gilman’s products are deployed across multiple sectors and in wide-ranging applications that need durability and time-tested quality.
Gilman will be Madison Lake Capital’s first acquisition under its Machine Components platform. Mike Weiland, the company’s current COO, will assume leadership at Gilman and continue leveraging his 15+ years of experience in the sector to take the company to new heights.
Akhil Remesan, Partner at Madison Lake Capital, commented. “We express our gratitude for being selected as the next stewards of Gilman. We are very excited to build on to the great culture that the previous owners have in place.”
Mark Ziebell, Former Owner and CFO of Gilman, commented. “We are grateful to have found, what l am sure will be, another successful owner for the business we are quite proud of.”
Capitol Bank(Madison, WI) supported the senior term loan facility. Reinhart Boerner Van Deuren s.c (Milwaukee, WI) was the legal advisor, and WIPFLI was the accounting firm. Promontory Point Capital was the investment banker on the seller’s side.
About Madison Lake Capital
Madison Lake Capital (MLC) is a private equity firm specializing in company buyouts and commercial real estate transactions in the lower middle market. The Company buyout practice targets family-owned, single-owner entities with a long history of stable performance. The Real Estate investment practice target properties with locked-in NNN tenants. For additional information, visit www.madisonlakecapital.com.
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