Foundation Investment Partners sells Miljoco Corporation stake to DwyerOmega

Chagrin Falls, Ohio-based private equity firm, Foundation Investment Partners (FIP), has recently announced the sale of its investment in Miljoco Corporation to DwyerOmega, a portfolio company of Arcline Investment Management. The terms of this significant transaction have not been disclosed.

Miljoco Corporation: A Legacy in Instrumentation

Miljoco, a leader in the design, manufacturing, and distribution of temperature and pressure measurement instruments, has a storied history dating back to 1979. Based in Mount Clemens, Michigan, the company is known for its high-quality, highly customizable products, used in critical applications like life and safety, food safety, and industrial processes. Miljoco includes two widely respected brands: Miljoco and Weiss, the latter with a history extending over 140 years.

Foundation Investment Partners’ Role in Miljoco’s Growth

Foundation Investment Partners partnered with Miljoco’s founder, Howard Trerice, to meet his transition and liquidity goals, while setting the stage for the company’s future growth. Under Foundation Investment Partners’ guidance, Miljoco experienced significant operational enhancements, including the recruitment of new leadership, expansion of engineering and sales teams, and addressing manufacturing constraints. This resulted in doubling manufacturing throughput and expanding Miljoco’s customer base and end markets.

Statements from FIP’s Leadership

David Wood, Managing Member of Foundation Investment Partners, emphasized the firm’s investment strategy centered around partnering with retiring entrepreneurs to professionalize operations and accelerate growth. He expressed satisfaction with the successful implementation of these strategies at Miljoco, leading to an attractive return for investors and a quality new partner for employees.

The Next Phase for Miljoco Under DwyerOmega

The acquisition by DwyerOmega marks a new phase in Miljoco’s growth trajectory. Foundation Investment Partners’ strategic and operational enhancements have positioned Miljoco for sustainable growth and value creation, making it an ideal partner for DwyerOmega in its future endeavors.