Miller Manufacturing Company
As Executive Vice President of privately held Frandsen Corporation, Phil Arneson was tasked to grow the enterprise through internal growth and acquisition.
In 1996, Arneson searched for and found Miller Manufacturing Company, a highly profitable, family owned firm. The company was owned by five siblings, and was not for sale.
Working with Frandsen Management, Arneson convinced the family members to sell, and it became a wholly owned subsidiary of Frandsen Corporation.
Miller had demonstrated remarkable operating income (in excess of 30%) for eight consecutive years prior to the acquisition. Since the acquisition, the company has tripled its annual sales, and maintained excellent margins.
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