12075 N. Corporate Parkway, Suite 120 | Mequon, WI 53092
[email protected]

Built on Trust. Defined by Results.

Deal Room
Deal Room

Krueger Bearings Inc.

Our team advised Krueger Bearings on its shareholder recapitalization funded by CIBM Bank.

Krueger Bearings

Transaction Details

Debt Placement Advisor

Year: 2023

Client: Krueger Bearings

Hedquarters: Milwaukee, WI

Industry: Industrials & Manufacturing

Website: www.kruegerbearings.com

Overview

Completed by the Vantage Investment Banking team under a prior firm, Krueger Bearings, a manufacturer of precision machined parts, has been recapitalized by ownership with the funding provided by CIBM Bank.

About Krueger Bearings

Established in 1971, Krueger Bearings is a manufacturer of high-quality, precision-machined parts for the oil & gas, energy, marine, power generation, and other related industrial markets. Over the Company’s 40+ year history, Krueger Bearings has become known for delivering high-intensity, mission-critical components with the ability to adhere to tight tolerances and short timelines. In addition, the Company has become an expert in babbitt machining, establishing Kreuger as a preferred provider for babbitt bearings required by naval specifications.

About CIBM Bank

CIBM Bank is a full-service commercial bank headquartered in Champaign, IL and a wholly owned subsidiary of CIB Marine Bancshares, Inc. CIBM Bank offers personal banking, business banking, mortgage, and treasury management solutions across Illinois, Indiana, and Wisconsin.

Deal Team

Vantage Investment Banking
Bill Penkwitz

Bill Penkwitz

Partner
Mike Burmesch

Mike Burmesch

Partner
Alex Penkwitz

Alex Penkwitz

Vice President

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Built On Trust. Defined By Results.

We specialize in investment banking for privately held businesses, offering expert guidance and fresh perspectives. Contact us to learn more and explore your options.

Address
12075 N. Corporate Parkway, Suite 120 
Mequon, WI 53092
Get In Touch
[email protected]
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Mike Burmesch

Partner & Co-Founder

262-483-6014

[email protected]

Biography

With over a decade of middle market investment banking experience, Mike brings extensive transactional and advisory expertise to the team. He has advised on more than 40 M&A, Debt Placement, and Capital Raising transactions spanning the industrials & manufacturing, business services, technology & IT services, consumer products, and food & beverage industries.

In his role, Mike provides senior-level leadership across all aspects of transaction strategy and execution. He is actively involved in shaping go-to-market strategies, advising clients on valuation and deal structure, and leading negotiations with buyers, investors, and other counterparties. Mike oversees the development of marketing materials, manages buyer and lender engagement strategies, and guides clients through complex diligence and closing processes. His breadth of experience and strategic perspective allow him to provide clear, thoughtful advice to business owners and management teams, helping them navigate significant financial and strategic events with confidence.

Prior to entering investment banking, Mike worked as a Senior Accountant with Baker Tilly. Mike holds a BBA in accounting from St. Norbert College and is a licensed CPA.

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Alex Penkwitz

Vice President & Co-Founder

262-339-8772

[email protected]

Biography

Working in the middle market investment banking industry since 2020, Alex is responsible for leading the day-to-day execution of M&A transactions for the Vantage Investment Banking team. His responsibilities span all phases of the transaction process, including financial modeling and valuation analysis, preparation of marketing materials, buyer and investor outreach, and coordination of due diligence activities. He plays a central role in managing timelines, facilitating communication between clients and counterparties, and supporting negotiations to ensure smooth execution.

Alex has advised on more than 25 M&A, Debt Placement, and Capital Raising transactions across multiple industries, including industrials & manufacturing, business services, technology & IT services, consumer products, and food & beverage. His experience working with both privately held businesses and institutional investors gives him a well-rounded perspective on the strategic, operational, and financial considerations that drive successful outcomes.

Alex holds a BBA in finance from Marquette University, centering his education around investments and participating in the Accelerating Ingenuity in Markets (AIM) Program. 

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Bill Penkwitz

Partner & Co-Founder

414-559-3519

[email protected]

Biography

Bill brings more than 25 years of investment banking experience, previously founding and building a boutique investment banking firm focused on advising middle market companies on mergers and acquisitions, debt placements, capital raising, and strategic advisory transactions. Over the course of his career, he has advised on more than 150 transactions across a wide range of industries. Bill remains active in the greater Milwaukee community, serving as a board member of several Wisconsin-based organizations and a shareholder in a number of privately held businesses.

Bill’s extensive experience gives him a unique perspective on both the advisory and operational sides of businesses, allowing him to provide thoughtful, senior-level guidance to business owners, management teams, and investors. Bill remains actively involved in all aspects of client engagements, ensuring each process benefits from his deep industry knowledge and leadership.

Prior to entering investment banking, Bill spent several years with U.S. Bank Capital Markets where he personally arranged over $200MM in structured finance transactions. Bill earned his Masters Degree in accounting and received a BBA in finance from the University of Wisconsin-Milwaukee and has passed the CPA exam.

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