Combination Brings Enhanced Capabilities to Both Entities
For More Information:
John D. Maggard, Chief Financial Officer: (404) 920-5011 | maggardj@watkinsind.com
January 3, 2019 (Atlanta, GA and Minneapolis, MN)— Watkins Associated Industries (WAI), headquartered in Atlanta, GA, has acquired Minneapolis, MN-based Lexington Manufacturing. WAI is a large, privately-held company focused on creating long-term value by building and managing world-class businesses. WAI’s existing lines of business include real estate, food processing, insurance services, and building materials. Lexington Manufacturing, operating out of Minneapolis and Brainerd, MN, is a full-service window, door and structural millwork component parts supplier, providing a wide variety of machining and fabrication services to meet specific customer needs. Both firms are multi-generational, family-owned businesses.
The stable, long-term management team at Lexington led by owners Bob and John Dimke and Mike Dillon, president, will remain in place post-acquisition. WAI will partner with this successful team to drive future investment and growth opportunities in Lexington’s core business.
“As a multi-generational family-owned business, we understand the issues of ownership transition and know how to acquire family-owned businesses responsibly. We take a long-term view as we identify businesses with attractive future growth prospects and a management team with a desire to remain involved,” says Eric Wahlen, President of WAI, of the transaction. “We allow presidents of our businesses to operate independently, while partnering with them in goal setting. We look forward to leveraging our core competencies of strategic business planning, disciplined investment, and operational measurement to help Lexington Manufacturing reach its goals for the future.”
“John and I truly believe that this partnership will ensure that Lexington Manufacturing will not only continue to grow in revenue and market share, but also maintain the family-oriented culture that makes people enjoy coming to work each day,” says Bob Dimke, CEO of Lexington Manufacturing.
“The fit between the philosophies of both companies is perfect for what each organization needs going forward.”
“I am so happy we have secured the future of the company in a way that will provide advantages not only for the family that founded Lexington but also for its current workforce,” says John Dimke, Vice President at Lexington. “I look forward to working with WAI and reaping the benefits of our combined expertise and business knowledge.”
