The management team at Pioneer Metal Finishing, a Green Bay-headquartered metal finishing company with locations in Minneapolis, Portland and Monroe, Mich., has purchased the company with the assistance of a Chicago-based private equity firm and a private investment group.
Cleary Gull Inc., a Milwaukee-based investment banking and investment management firm, advised Pioneer's management on the acquisition.
Prairie Capital, a Chicago-based private equity firm, helped the management team buy the company. Prairie Capital has four funds with more than $500 million under management, and generally partners with management or other private equity investors during a recapitalization or buyout.
The private investment group that was involved was not named in transaction materials.
"We've put together groups that are supportive of management's long-term goals," said Ron Miller, managing director with Cleary Gull. "This (the management) is a long-term buying group, and they are backing the team to do it."
Management team buys out Green Bay company
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