Alliance Food Equipment Holdings, d/b/a WCB Ice Cream, was a leading global designer and manufacturer of automated processing and production equipment for the ice cream and frozen snacks industry. The company operated from four strategic locations in the United States, Denmark and Italy.
Situation at the Time of The Anderson Group’s Investment: WCB was owned by a multibillion-dollar United States public corporation that was neither strategic to nor focused on WCB operations. Absent of direction from its parent, WCB underperformed across all four of its locations, each of which were managed and operated independently with minimal inter-company communication.
Anderson Value Add: Anderson partnered with management to purchase the assets of WCB and accomplish the following:
- Established centralized administrative and corporate functions.
- Implemented distinct leadership channels and strategic direction.
- Developed an integrated growth strategy focused on capturing global market share and fostering long-term growth opportunities.
- Reinvigorated the spare parts program to drive recurring revenue.
Outcome: The business operated as a cohesive organization and grew organically for more than ten years, expanding its share of existing markets and penetrating new market opportunities in developing nations. During that time, the business completed three dividend recapitalizations to provide cash distributions to ownership. WCB was eventually sold to a strategic acquirer.