St. Louis, MO, January, 2023
Capital For Business, Inc.® (CFB) is pleased to announce that it recently completed an investment in Kupferle, LLC (Kupferle). Kupferle, based in St. Louis, MO, is a manufacturer of water hydrants, sampling stations, monitoring and flushing solutions used primarily by municipalities to manage clean water systems. Founded in 1857 by John C. Kupferle, the Company transitioned from a foundry initially manufacturing a variety of items, to focusing on water hydrants in 1887, to outsourcing the foundry work in 1948, to machining and assembling innovative solutions that allow municipal field personnel today to remotely flush water systems and monitor clean water for residential and commercial use.
“I am excited to partner with CFB to ensure the long-term success of our great company and allow it to grow and expand into the future,” commented Dan McKeague, former sole proprietor and third generation owner of Kupferle. “I am pleased that our operations will remain essentially unchanged through a seamless transition, with no impact to our customers, distributors or suppliers. Also, given the investor group’s desire to grow, there is tremendous opportunity for our employees. I will continue to be involved with the business, including my current customer relationships, and I am a board member and investor in the Company.”
Affiliates of CFB, Independent Bankers Capital Fund (IBCF) and the Joseph Adorjan family provided subordinated debt and equity to complete the transaction. The investors partnered with Dan McKeague. Michael Adorjan has joined Kupferle as CEO and the entire Kupferle management, office and production teams will remain with the Company.
CFB Vice President Tim Buening noted: “We are excited to partner with IBCF, the Adorjan family and Dan McKeague to support the future growth of Kupferle, a company with such a long history of quality and brand recognition in the clean water market. We believe the Company has significant growth potential, as Kupferle’s employees, products, commitment to quality testing and innovative approach are best-in-class and solve problems in the clean water market, which is in need of substantial investment. We look forward to combining Kupferle’s solid foundation with Mike Adorjan’s deep management experience to pursue operational excellence, organic growth and add-on acquisitions.”
About Capital For Business
CFB is a St. Louis-based private investment firm, owned by Commerce Bancshares, Inc., providing capital to middle-market businesses with proven management teams and a high potential for growth. Founded in 1959, CFB is one of the oldest Small Business Investment Companies (SBICs) in the nation and is focused on control buyouts of value-added manufacturing, distribution and business services companies throughout the United States.