The LFM Quarterly // Flamin’ Hot!
Check out this edition to learn more about Weller Metalworks, the inspirational story behind Flamin' Hot Cheetos, LFM's latest hires, and more!
In July, LFM launched Weller Metalworks with the acquisition of Muthig Industries and recently announced the Acquistion of Laser Precision.
About Weller Metalworks
Earlier this year, LFM announced the formation of a new platform in Weller Metalworks (“Weller”). Weller is focused on offering complete lifecycle fabrication and machining solutions to OEM customers, from early stages through production and end-of-life, focusing on integrated digital technologies.
Weller is led by CEO Brian Yoder, who joined LFM in late 2022 as an Operating Executive. Prior to joining LFM and Weller, Brian spent six years at GE Aerospace, where he held various executive positions in operations, purchasing, and strategy for global machining and fabrication divisions. Prior to GE Aerospace, he spent over 13 years at Caterpillar in a variety of operational leadership roles and as purchasing executive for machining and fabrication suppliers globally.
Today, Weller is comprised of Muthig, a provider of custom metal fabrication, precision machining, and metal stamping services, and Laser Precision, a full-service metal fabricator that provides laser cutting, forming, finishing, and powder coating. Read more here:
LFM’s Jessica Ginsberg recently had the chance to catch the new streaming-on-Hulu hit movie, Flamin’ Hot, a mostly true story of Richard Montanez, the former Frito Lay janitor who invented Flamin’ Hot Cheetos. Given Jessica’s 13-year old’s son’s affinity for all things flamin’ hot (including mac’n'cheese; author’s note: do not recommend), the movie was a great opportunity to gather the kiddos around a bowl of (hot pepper-dusted) popcorn and take it all in.
In the movie, Montanez grew up poor in LA and struggled for much of his life. Once married and with two young boys, he decides to take matters into his own hands; getting a job at Frito Lay as a janitor and befriending engineer, Clarence Baker, against his peers’ advice. Shortly thereafter, as Frito Lay enters a period of decline and Montanez wants to help, he turns to his Mexican heritage, relying on a myriad of hot pepper combinations and his kids’ taste buds, to ultimately create the Flamin’ Hot flavor profile we all know and love today.
Flamin’ Hot, a classic underdog story, reminds us of a few often-spoken adages like hard work pays off and follow your dreams, of which Ginsberg was sure to remind her young children, however, here at LFM, we were quick to notice just how much of the movie takes place front and center on the floor of the Frito Lay factory. We got to see how Cheetos are made, we got to see automated equipment doing its thing and we got to see engineers doing theirs. We firmly believe that manufacturing companies, small and large, are truly the backbone of the US economy and were thrilled to have a front-row seat during Flamin’ Hot.
Needless to say, we give this one two enthusiastic thumbs up – and, in our somewhat biased opinion, Manufacturing is Flamin’ Hot.
New Faces
Ashley Prisant is the Portfolio Chief Human Resources Officer (CHRO) at LFM Capital and is responsible for talent development of portfolio companies, employee strategies, team bench strength growth and learning and development. She brings to the firm over 15 years of management leadership and operating experience, having served in a variety of executive and functional roles in HR, operations, finance, consulting, and academia. Read more...
Aaron Ramsden is an associate at LFM Capital and is focused on deal evaluation and execution. Prior to LFM, Aaron worked at Hastings Equity Partners in Houston, Texas, where he served in portfolio company operating roles including President at Powercor Services, LLC and Director of Corporate Development at MKD Electric, LLC. Before joining Hastings, Aaron worked for Transgrid in Sydney, Australia where he held various leadership and engineering roles. Read more...
AJ Koch is an Associate at LFM Capital. He brings extensive transaction and valuation experience to LFM. Prior to LFM, AJ was an Investment Banking Analyst at Raymond James in Boston, MA, where he focused on middle market M&A transactions in the industrial technology industry. Read more...
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LFM Capital Launches Weller Metalworks Platform with Acquisition of Muthig Industries Read More...
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ABOUT LFM CAPITAL
LFM Capital is a private equity firm based in Nashville, Tennessee. The firm’s mission is to partner with portfolio company management to develop and build world-class operations through a combination of manufacturing and operations excellence and targeted growth and expansion strategies.