Generating Growth for Winco Manufacturing Mfg., LLC

Capital For Business® (CFB) added Winco Mfg., LLC to its investment portfolio in August 2010. Winco is a manufacturer of medical furnishings including privacy screens, treatment tables, phlebotomy chairs and stools with a focus on Treatment recliners and powered Stretcher-Chairs.


Winco’s expertise has centered on its clinical treatment recliners used by patients during the course of their care in dialysis and oncology infusion treatments. CFB had acquired other companies within the health and safety products industry previously and recognized the potential Winco represented as a valuable addition to their investment portfolio. CFB’s ultimate goal was to unlock that potential and generate growth for Winco by providing management guidance, access to capital and eventually through complimentary acquisition opportunities.

For their part, Winco was attracted to CFB because of their strong track record with similar sized acquisitions. It was helpful that the financial backing was based in the USA with a national reach. Additionally, Winco’s executives at the time of the acquisition were comfortable that their vision could be maintained by the fact that CFB would allow autonomy while providing financial stability and key high level management guidance. This autonomy allowed Winco’s management team to run daily operations sans corporate pressure while relying on CFB’s experience, resources and guidance for complex problems. As result, CFB established a productive professional and consultative relationship with Winco.

Professionalization and support

Top-level guidance is critical in jumpstarting the growth of a company. CFB’s extensive experience in advising companies in the manufacturing sector was an asset that helped Winco profitably grow and develop a longer term forward looking mission. With CFB support Winco has evolved with:

  • Professionalized branding to better promote the company and its mission
  • Integration of viable acquisition options generating external growth
  • Expanded market presence in brand awareness and revenue
  • Sound legal and accounting advice to streamline business processes

CFB’s extensive resources provided Winco with exposure to resources that were previously not readily accessible. For example, CFB shared focused and experienced resources in many key areas including accounting, legal, HR, manufacturing, Insurance and regulatory matters.

Professionalization and growth begins with employees, which is why CFB constantly searches for high performing individuals who bring value and accelerate growth to a company. Tom Lorick, the current President of Winco, was one such employee who was initially sought out and brought on board for his marketing expertise. As CFB cultivated its investment in Winco, Lorick’s talents were brought to a fore and he was subsequently promoted through the organization to President where his direction is to keep the team laser-focused on profitability and growth.

A key acquisition to generate growth

Lorick pointed out that Winco would not be positioned how it is today without an acquisition in June 2015 proposed by CFB. That acquisition was TransMotion Medical, a manufacturer of innovative medical stretcher-chairs designed to help prevent staff strain and reduce patient transfers resulting in reduced risk and lowered costs. Their mission of “One patient, one surface, from admission to discharge” resonates with care givers and fits perfectly with Winco’s stated mission of “enhancing the patient and caregiver experience”

CFB proposed the acquisition to Winco’s management team and directed the entire acquisition process from a legal and financial perspective. Winco’s team was receptive to TransMotion’s assembly based manufacturing, where the company designed the product, using third parties to procure parts, and then assembled, and distributed the final product themselves. CFB and Winco correctly envisioned the cost savings and overhead absorption realized when TransMotion’s operations were seamlessly incorporated into Winco’s existing manufacturing facilities. Furthermore, TransMotion’s products closely aligned with Winco’s core market in the medical industry, which enabled Winco to expand its presence in stretcher-chair market and gain a valuable distribution channel.

With the Winco management team’s enthusiastic support, CFB directed the acquisition and Winco focused on the subsequent integration. Lorick noted that CFB’s handling negated the need for any new capital sources or a buyer’s broker, driving down costs and time. The acquisition provided Winco increased distribution as well as instant brand recognition in the Stretcher-chair market. Winco continues to work with CFB to find similar acquisitions and internal organic opportunities for growth.

Lorick notes that “If I have a question, CFB is there and will give us advice but won’t force us into a decision. They are an exceptional resource with invaluable experience. I appreciate what I refer to as the “hands-light” approach that they take in helping us manage our business.”