News Summary
A private equity firm from Los Angeles has purchased the MRPC headquarters in Butler, Wisconsin for $7.8 million. This acquisition signifies a strategic move in the medical manufacturing sector, as MRPC continues its expansion efforts with substantial renovations. The property, measuring 6 acres and encompassing 110,000 square feet, will support MRPC’s ongoing commitment to producing advanced surgical devices, as it serves prominent medical clients. Vance Street Capital aims to capitalize on this strong growth potential in essential industries.
Butler, Wisconsin
A private equity firm based in Los Angeles has acquired the headquarters of MRPC (formerly Molded Rubber and Plastic Corp.) for $7.8 million, as indicated by state property records. The transaction marks a significant change for the manufacturing company, which has been operational for over a century and specializes in the production of advanced surgical devices.
The property is situated at 13153, 13161, and 13191 W. Glendale Ave. in Butler, Wisconsin. It spans approximately 6 acres and includes multiple buildings with a total area of about 110,000 square feet. The seller of the property is Boemer Enterprises LLC, an Illinois-based entity linked to MRPC’s CEO Greg Riemer. The buyer, VSC Specialty Molding Real Estate LLC, shares an address with the Los Angeles investment firm Vance Street Capital, which orchestrated the acquisition.
Details of Vance Street Capital and Recent Acquisitions
Vance Street Capital focuses on investing in technology-driven business-to-business firms. The firm has made significant moves in various sectors, notably in medical, industrial, aerospace, and defense. Recent acquisitions by the firm include Swift Filters, a manufacturer of hydraulic filter elements, and Zenith Adhesive Components, an Irish contract manufacturer. This acquisition of MRPC’s headquarters aligns with Vance Street Capital’s strategy to invest in companies with strong growth potential in essential industries.
MRPC’s Operations and Expansion Efforts
MRPC has a well-established reputation as a contract manufacturer serving major clients in the medical device sector, including renowned companies like Boston Scientific, Medtronic, and Johnson & Johnson. Over the past year, MRPC has been proactive in enhancing its operations, initiating a $3 million expansion project dedicated to upgrading one of its cleanrooms. The purpose of this expansion is to reduce contamination risks during the manufacturing process. Furthermore, the company completed a $2 million renovation project to improve its existing facilities.
Conclusion
The recent acquisition of MRPC’s headquarters by Vance Street Capital signals a strategic investment in the medical manufacturing sector amid growing demands for advanced surgical devices. With its longstanding history and ongoing expansion efforts, MRPC is poised for continued growth as it adapts to the evolving needs of its clients in the medical field.
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- Multifamily Biz
- Wikipedia: Private Equity
- Biz Times
- Google Search: Private Equity Real Estate
- Wall Street Journal
- Google Scholar: Private Equity Accounting
- Urban Milwaukee
- Encyclopedia Britannica: Hedge Fund
- Biz Times: Brown Deer Apartment Sale
- Google News: Brown Deer Apartment Complex
Author: STAFF HERE MILWAUKEE WRITER
MILWAUKEE STAFF WRITER The MILWAUKEE STAFF WRITER represents the experienced team at HEREMilwaukee.com, your go-to source for actionable local news and information in Milwaukee, Milwaukee County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Summerfest, Milwaukee Film Festival, and the Milwaukee Boat Show. Our coverage extends to key organizations like the Metropolitan Milwaukee Association of Commerce and Visit Milwaukee, plus leading businesses in manufacturing and brewing that power the local economy such as Harley-Davidson and MillerCoors. As part of the broader HERE network, we provide comprehensive, credible insights into Wisconsin's dynamic landscape.
