Company News

  • Updated: December 5, 2012 - 7:42 PM
MERGERS AND ACQUISITIONS

Winland Electronics Inc., Mankato, has agreed to sell its headquarters and manufacturing building to Nortech Systems Inc., Wayzata. The sale of the 58,000-square-foot facility is contingent on environmental studies, appraisal and financing approval. Financial terms of the deal were not yet available because the transaction is subject to closing conditions. The company expects the transaction to be complete by the end of 2012.

NEW BUSINESS

West Monroe Partners, Chicago, a business and technology consulting firm, has opened an office in Edina. Initially, the office will focus on merger-and-acquisition-related services for private equity, health care and manufacturing companies in Minnesota and the Upper Midwest.

DEBT AND EQUITIES

Patterson Companies Inc., Mendota Heights, declared a quarterly cash dividend of 14 cents per share, payable Dec. 31 to shareholders of record on Dec. 17.

Valspar Corp., Minneapolis, declared a quarterly dividend of 23 cents per share, payable Dec. 28 to common stockholders of record on Dec. 17. The board of directors has also authorized the repurchase of 15 million shares of outstanding common stock, effective immediately. The authorization replaces the previous repurchase authorization of October 2010, and has no expiration date. As of Dec. 4 the company had about 90 million common shares outstanding.

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