Chicago-based Milton Industries announced its acquisition of National-Spencer and the Zee Line brand of lubrication and fluid management products. National-Spencer has facilities in Wichita, KS; Spencer, IA; and Stockton, CA.
This is Milton’s third acquisition in the last 18 months.
“This extends Milton’s footprint in industrial, agricultural and aeronautic markets and expands Zee Line’s distribution channels,” says Greg Carlson, CEO of Milton Industries. “We plan to use our design and engineering expertise to broaden both brands’ premium product offerings. Our combined systems, support and network will multiply growth.”
“Milton is committed to a seamless transition and to servicing all our current customers with excellence,” says Rick England, president and CEO of Zee Line and Hall of Fame race car driver. “Operations will continue as usual. Our distributors will have the same customer service people and discounts, but with faster order fulfillment through increased scale and systems support.”
Carlson will serve as CEO of the new Zee Line by Milton brand. England will work with Carlson during the transition. Zee Line was employee-owned prior to the acquisition. Milton’s management team is partnered with its financial sponsor, LLCP (Levine Leichtman Capital Partners).
Milton Industries and Zee Line are strong players across their now combined markets, including agricultural, industrial, manufacturing, automotive, military, aeronautical and trucking/fleet industries.