LFM Capital Launches Weller Metalworks Platform with Acquisition of Muthig Industries

NASHVILLE, TN – July 11, 2023 – LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced today the formation of Weller Metalworks, a metal fabrication and precision machining platform, and the closing of its first acquisition, Muthig Industries (“Muthig”). Terms of the transaction were not disclosed.

Founded in 1965 by Ray and Judy Muthig, Muthig provides custom metal fabrication, precision machining, and metal stamping services to customers in a variety of industries as an outsourced manufacturing partner. The company has remained a family-owned business, transitioning to Bruce and Ann Muthig in 1986 and most recently to the Nuss and Nachreiner families in 2012.  Muthig is based in Fond du Lac, Wisconsin. 

Weller Metalworks (“Weller” or “the Platform”) is focused on offering complete lifecycle fabrication and machining solutions to OEM customers, from the prototype stage through production and end-of-life with a focus on integrated digital technologies. Brian Yoder, who joined LFM as an Operating Executive in late 2022, will now serve as President and CEO of the Platform.  Brian has extensive manufacturing and leadership experience at companies including GE Aerospace and Caterpillar, where he held executive positions in human resources, operations, purchasing, and strategy.

Brian Yoder commented, “I am delighted to kickstart Weller Metalworks with the addition of Muthig Industries. This business is ideally suited to address customers’ diverse needs by offering high-quality fabrication, machining, stamping, and tool and die capabilities to streamline supply chains. As the inaugural acquisition, Muthig serves as a strong testament to the bright future of the Weller platform.” 

Muthig President Jeff Nuss noted, “LFM’s deep expertise across manufacturing, operations, and engineering was truly differentiating as we selected a partner to help grow Muthig’s business. Since the company’s founding in 1965, we have remained committed to providing the highest quality services to our loyal customers. We are honored to work alongside LFM and the broader Weller platform to maintain this commitment with the help of our dedicated employees.”

LFM Managing Director Dan Shockley added, “The addition of Muthig to Weller Metalworks is a key milestone for LFM. As we grow the Platform under Brian’s leadership across geographies, capabilities, and industries, Weller will be able to support customers seeking a high-performing, diversified business with expanded capabilities.” 

Yoder continued, “Notably, the digital initiatives that we implement across the Platform will unify our offerings to our customers, improve our efficiencies and ensure each business maintains optimal levels of performance.”

LFM Operating Partner Ken Hoefling, Vice President Russ Aiken, and Associate Dalton Gullett worked with Shockley on the Muthig transaction. Managing Director Jessica Ginsberg sourced the opportunity for LFM. 

About LFM Capital
LFM Capital is a private equity firm based in Nashville, Tennessee. The LFM team is led by experienced and successful Fortune 50 global executive managers and private equity professionals who bring decades of management leadership, operating best practices, exceptional professional recruiting networks, and a successful track record in lower middle market investing. LFM targets lead or control investments in U.S.-based lower middle market manufacturing and industrial services companies with at least $3 million of EBITDA and enterprise values ranging from $15 million to $125 million. 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. For additional information, please visit www.lfmcapital.com.

About Muthig Industries
Located in Fond du Lac, Wisconsin, Muthig Industries is a full-service manufacturer for metal stampings, laser cutting, production machining and turning, tool and die, and custom metal fabrication products. For more information, please visit www.muthigindustries.com.