Watkins Associated Industries Acquires Lexington Manufacturing

Glass Magazine
January 7, 2019
COMMERCIAL, FABRICATION

Watkins Associated Industries acquired Lexington Manufacturing. WAI is a large, privately-held company, with an existing line of businesses in the building materials sector, among others. Lexington Manufacturing, operating out of Minneapolis, Minnesota, is a full-service window, door and structural millwork component parts supplier, providing a 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 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.”