Chicago-based private equity firm Beecken Petty O’Keefe & Company has acquired a majority equity stake in Milwaukee-based Midwest Products & Engineering (MPE Inc.), the company announced this week.
Financial terms of the transaction were not disclosed. The transaction closed on Sept. 24.
MPE is a contract manufacturer specializing in medium volume production for medical and technology original equipment manufacturers. The company was founded in 1978 and is located in a 160,000-square-foot facility at 10597 W. Glenbrook Ct. on Milwaukee’s far northwest side. The company has about 200 employees, all in Milwaukee.
Beecken Petty O’Keefe & Co. was founded in 1996 and is among the oldest private equity firms in the U.S. that specialize exclusively in health care.
Hank Kohl, president and chief executive officer of MPE, will continue to lead the company.
“MPE is proud to be a premier partner to many of the nation’s largest medical device and technology OEMs,” said Kohl. “BPOC’s experience in contract manufacturing and the broader health care industry is well aligned with our business model and strategy and will allow us to better serve our customers while continuing our rapid growth. I am excited by this new partnership with BPOC and our realizable future together.”
Operations at MPE will continue as usual, with no changes to management, branding, sales channel partnerships, or the company’s global supply chain infrastructure, according to a news release on the deal.
“MPE provides significant value to its customers through its Concept to Completion model,” said Dave Cooney, a partner at BPOC. “The company is a market leader with best-in-class product development, manufacturing operations and technical services. We are excited to partner with MPE’s management team to support the company and its long-term growth initiatives.”
