Paul Mueller divests Mueller Field Operations Inc. to new management
On December 31, 2021, Paul Mueller sold its entire equity interest in its wholly-owned subsidiary, Mueller Field Operations, Inc. (MFO), to the MFO management. The sale price was $3.5 million and the company recorded a gain on sale on this transaction of $2.9 million. Mueller Field Operations offers complete construction services with an emphasis on expanded scope projects. As part of the transaction, the parties entered into a non-compete agreement and a supply arrangement outlining how the companies will continue to support one another as they have during their history together.
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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