Wisconsin River Partners (WRP), a Wausau, Wis.-based new private equity firm, launched officially.
Co-founded by Kevin Kraft, a Wausau manufacturing and financial services veteran, and Jim Frings, a seasoned executive in the manufacturing, real estate and technology sectors, the firm will focus on acquiring, holding and developing mid-market companies in Central and Northern Wisconsin.
WRP will provide business owners with a customized approach to selling their business, with operational and strategic support from Kraft and Frings. Each of the portfolio companies will have an advisory board including both partners and additional investors with industry experience.
The firm will provide regular reporting of financial and operating performance to investors as part of its transparent governance charter.
It is looking to acquire additional stable companies in the $5 million to $50 million revenue range.
The firm recently acquired Profile Finishing Systems, Inc. with locations in Waukesha and Kaukauna, Wisconsin.