Krueger Bearings (“Krueger”) is a Milwaukee-based manufacturer of high-quality, precision-machined parts for the oil & gas, energy, marine, power generation, and other related industrial markets. Over the Company’s 40+ year history, Krueger Bearings has become known for delivering high-intensity, mission-critical components with the ability to adhere to tight tolerances and short timelines. In addition, the Company has become an expert in babbitt machining establishing Krueger as a preferred provider for babbitt bearings required by large naval specifications. These customers rely on Krueger due to the Company’s reputation for producing reliable, mission-critical parts and deep expertise in a variety of babbitt applications.
As the Company began to plan for its next phase of growth, Krueger Bearings sought to implement a plan allowing for a recapitalization of ownership, while also maintaining the firm’s unique culture and independent business structure. PPC was engaged by Krueger Bearings to help evaluate a variety of options that would address the growth goals of the Company, its leadership team, and its ownership group. As part of this engagement, PPC helped the shareholder group and leadership team agree to a transaction structure and then led the evaluation of various financing alternatives to satisfy the desired objectives. A shareholder recapitalization for Krueger Bearings was funded by CIBM Bank during Q1 of 2023 resulting in another successful Done Deal for our firm.