When talking about financing deals, the story can get lost in the facts and figures. We recently collaborated with MBW of Slinger, Wisconsin to help them move forward with their ambitious growth plans. To understand why you should care, you really need to know the type of company MBW is, the impact they have had on the Slinger community and why it was a no-brainer to work all our magic to put together a capital stack that results in a phased growth project that benefits the community and the company that has called it home since 1967.
Who is MBW?
MBW is a high-tech manufacturer of custom-designed compaction and concrete construction equipment engineered for high performance on the most demanding of job sites. Established in 1967, the firm has grown with some 57 employees in their production facility in Slinger in addition to operating a subsidiary, MBW Europe Ltd., in the UK. As they move forward with their growth plans, thanks in part to the flexible financing package, all current 57 positions are retained, with plans to add up to seven more.They partner with local companies for their supply chain,
Most importantly, MBW is a company that is truly vested in the community. They are intentional about partnering with local companies for their supply chain – helping the economic prosperity of Washington County companies. They also have a solid internship program, providing a career path for local high school students at MBW. Currently, three of their interns recently graduated and plan to continue their careers with MBW.
A Win for Washington County and the Slinger Community
MBW, Inc. represents a top economic development priority for Slinger, Washington County and the surrounding region for reasons including but not limited to:
- Primary exporter that contributes powerfully to our Gross Regional Product via net new inflow of money to the
- Possesses a strong national and international footprint within their industry.
- Offers innovation as a core value for customers, investing further in R&D capacity.
- Growing capacity to bring 300 trainees to Slinger for multi-day training events, amounting to an estimated 600 overnights and associated spends.
- Employment – 7 NEW Jobs, 57 RETAINED Jobs
EDWC Financing Supports Ambitious Growth Plans
MBW adopted a plan in 2020 to double its business in under five years. They reached a ceiling in 2021 due to space and capacity constraints within their current facility. As such, their project has two phases: (1) construct a 12,000 SF R&D, engineering and global training center that would also house the leadership team and (2) leverage the freed-up space in the existing facility to reconfigure the manufacturing plant for more efficient production flows and optimized throughput. The Phase 1 new facility includes expanded and advanced training capabilities that allow the company to provide customers and dealers with both classroom and hands-on training in the engineering and repair area. The capstone experience will be real-world application in “the pit,” which represents a controlled environment for year-round testing and use of equipment in a large “field” setting. This expansion will allow 10, 3-day trainings per year with 30 participants each. R&D and engineering activities would overlay in these same spaces when training was not underway.
Phase 2 plant reconfiguration will include various improvements to the existing facility, such as dock rebuilding along with purchasing additional manufacturing equipment.
We are proud of the part we played in ensuring that a solid community business grows their footprint right here in Washington County. Learn more about the loans and incentives packages we craft for businesses expanding in or relocating to Washington County.
Reach out to an EDWC expert to discuss your growth plans and how we can help get you there.