Investment Group Acquires Greenhouse Heating Company
L.B. White Company has been acquired by an investment group including Jeff Diermeier, Rick Diermeier and Kevin Gagermeier.
The acquisition includes L.B. White, PSI Heating Systems and two sister companies that make up Hospitality International and La Crosse and Carroll Chair Company. Terms of the transaction were not disclosed.
Rick Diermeier has served as the company’s president and COO since 2004, and Gagermeier has served as CFO since 2007. Jeff Diermeier is the company’s new chairman and is a private investor who was the former CEO of the CFA Institute headquartered in Charlottesville, Va.
L.B White is based in Onalaska, Wisc. It manufactures direct-fired forced air, radiant and indirect-fired heaters.