Wesso, Inc. Is Acquired By Planeview-WMI, LLC
HOUSTON, TEXAS (December 2013) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that the assets of Wesso, Inc. (“Wesso”) of Conroe, TX have been acquired by Planeview-WMI, LLC (“Planeview”), a newly formed investment company. The transaction was completed on November 27, 2013.
Wesso is a leading provider of tungsten carbide centrifuge tiles and related wear parts to the domestic and international decanter centrifuge OEM and repair markets. The tungsten carbide tiles are consumable parts designed to protect the centrifuge from excessive wear resulting from highly abrasive industrial applications. Wesso provides the most abrasion and corrosion resistant centrifuge tiles available as per ASTM® abrasion tests. The Company’s primary end market is the oil and gas energy industry, but additional revenues are also derived from food rendering plants, wastewater treatment plants, and the coal industry.
David Hurd, President of Wesso commented, “Statesman did a great job throughout the process of guiding us through the many complexities of selling a business. Their experience in these types of transactions was critical in helping us to overcome some challenges and find solutions that were acceptable to both sides. With Statesman’s help, we’ve found a great partner to assist us in the continued growth of the business.”
Planeview, a recently formed private investment company located in Columbus, NE, was established to facilitate the acquisition of Wesso. Alex Bernstein, Planeview’s President, will be relocating to Houston in connection with the acquisition. The Bernstein family has been in the metal parts manufacturing industry since 1965, specializing in high-precision metal parts for aerospace and medical OEM’s. Alex Bernstein represents the third generation of ownership and management of the Bernstein family holdings.
Statesman Corporate Finance, LLC served as the exclusive financial advisor to Wesso, Inc. The Statesman transaction team included Principal Will Jaco and Associate Karla Bayer. Robert C. Beasley of Weycer, Kaplan, Pulaski & Zuber, P.C. located in Houston, TX served as legal counsel for Wesso, Inc.
Statesman Corporate Finance, LLC is a leading middle market investment bank headquartered in Houston, Texas. Statesman provides merger and acquisition sell-side and buy-side advisory services and general corporate financial advisory services to small and middle-market companies.