Vessco Inc, a portfolio company of O2 Investment Partners, said March 11 that it invested in Dorner Products. Financial terms weren’t announced. Dorner, of Sussex, Wisconsin, supplies flow control equipment and related services.
Vessco Inc. Invests in Dorner Products, LLC and Hires Dan Axelson as Chief Financial Officer
Chanhassen, MN – March 11, 2019 – Vessco Inc. (www.vessco.com), a premier supplier of water and wastewater treatment technology, and portfolio company of O2 Investment Partners, LLC (www.o2investment.com), announced today that it has made an investment in Dorner Products (www.dornerco.com), a leading supplier of flow control equipment and related services.
Dick Corbett, CEO of Vessco, commented, “The Dorner management team has grown their business into a leading supplier of flow control equipment and services in the Midwest. We are excited to partner with them and grow together.” Brian DeWolf, President of Vessco, added, “Dorner is known throughout the industry for offering the highest quality equipment and services in their territory. We look forward to a rewarding partnership.”
Dorner is a leading supplier of water and wastewater treatment technology specializing in flow control equipment and services. Located in Sussex (Milwaukee), Wisconsin, the Company’s flagship products include valves and actuators which are highly complementary to Vessco’s water and waste water process equipment offerings.
Tim Ruesch, President of Dorner, commented, “We see many growth opportunities ahead of us and are confident that Vessco is the right partner to help us achieve our goals.” Gary McMahon, Vice President, added, “We’re looking forward to partnering with Vessco and believe that this combination will be highly beneficial to our principals and customers.”
Pat Corden of O2 Investment Partners commented, “The combination of Dorner and Vessco expands the platform’s flow control capabilities in the Midwest. It is an excellent strategic fit and we are excited to continue growing the business with our partners.”
Additionally, Vessco hired Dan Axelson as Chief Financial Officer. Dan is a seasoned senior financial leader in both family-owned and private equity-owned businesses. He has extensive management experience in financial reporting, financial planning and analysis, treasury management, strategic planning, capital investment, tax planning and reporting, and mergers, acquisitions and divestitures.
Vessco is a multifaceted water treatment company providing value-added distribution and engineering services for municipal and industrial water and wastewater treatment projects, primarily in the upper Midwest and central United States. The Company implements a highly technical sale process that requires a consultative, engineering-centric approach. This effort is supported by Vessco’s outstanding reputation as industry experts with its over 3,500 past customers. Vessco is headquartered in Chanhassen, Minnesota.
Dorner is a leading supplier of water and wastewater treatment technology specializing in fluid process equipment and controls (i.e., “flow control”). The Company’s flagship products include valves and actuators which move or control fluid in a variety of applications. Dorner services all industries, but focuses primarily on water and wastewater treatment plants, power plants, industrial processing facilities and original equipment manufacturers. Dorner is located in Sussex, WI.
About O2 Investment Partners:
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire interest in lower middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management.