L. B. White Company, Inc. announces that the ownership interests of Jeff Diermeier and Rick Diermeier have been acquired by Mason Wells, Inc. of Milwaukee, WI. Kevin Gagermeier continues as an owner of the business and will be replacing Rick Diermeier as President and CEO when he retires in mid-October. Following the transition of duties to Kevin, Rick Diermeier will continue to serve as a member of the Board of Directors of the Company. All other employees will remain with the business. Terms of the transaction were not disclosed. Kevin Gagermeier is and has served as Chief Financial Officer since 2007 and co-owner since 2010.
L. B. White was established in 1952 by Lyall White. In 1992, the business was purchased by Tony Wilson from Warren Quinlisk. Jeff Diermeier, Rick Diermeier and Kevin Gagermeier acquired the business in December 2010.