Mason Wells Acquires L.B. White Company

Westinghouse Acquires Midwest Equipment Sales with Financing from WhiteHorse Capital

October 10, 2024

Consumer Products

Westinghouse Electric & Manufacturing Company, LLC has acquired Midwest Equipment Sales, LLC. WhiteHorse Capital provided a new first-lien credit facility to support the acquisition, refinance existing debt, and pay related transaction expenses; Westinghouse says the deal will help restore its manufacturing and product-innovation capabilities and leverage MWE's retail relationships.

Mason Wells Acquires SWAT Group, Inc.

January 1, 2022

Environmental Services

Mason Wells, a Milwaukee-based private equity firm, has acquired SWAT Group, Inc., a radon mitigation and vapor intrusion remediation services provider founded in 1988. SDR Ventures served as exclusive sell-side advisor; SWAT operates in 33 states with over 120 field installation technicians and will be consolidated under Mason Wells to support growth and scaling.

Wabtec Acquires L&M Radiator, Inc.

June 16, 2023

Manufacturing

Wabtec Corporation has acquired L&M Radiator, Inc., a Hibbing, Minnesota–based manufacturer of heavy‑duty equipment radiators and heat exchangers, for $230 million in cash. The acquisition expands Wabtec's thermal management and mining product capabilities and is expected to be immediately accretive to EPS while delivering synergies over the next three years.

Bain Capital Private Equity Acquires Majority Stake in US LBM

December 18, 2020

Building Products

Bain Capital Private Equity agreed to acquire a majority stake in US LBM from Kelso & Company, with the transaction announced in November 2020 and completed in December 2020. The deal positions Bain to further scale US LBM’s national building-materials distribution platform and accelerate its acquisition-driven growth.

US LBM Acquires Walker Lumber & Supply

February 3, 2025

Building Products

US LBM has acquired Walker Lumber & Supply, a Nashville-based building products distributor founded in 1949. The acquisition gives US LBM its first Tennessee location and expands its presence in the Southeast; Walker Lumber's owners Ray Hayles and Scott McMillan will continue to run day-to-day operations. QS Capital Advisors served as Walker's exclusive financial advisor.

Limbach Holdings Acquires Pioneer Power, Inc.

July 1, 2025

HVAC & Mechanical

Limbach Holdings, Inc. (Nasdaq: LMB) acquired Pioneer Power, Inc., a full-service mechanical contractor serving the Upper Midwest, for $66.1 million in cash and borrowings. The deal expands Limbach’s footprint and industrial mechanical capabilities in the Upper Midwest and is expected to contribute approximately $120 million of annualized revenue and $10 million of adjusted EBITDA beginning in 2026.