Local investors save Mendota company and its employees
Posted by wlpo on May 29, 2014
A struggling Mendota construction company has a new owner. Illinois Valley Millworks of Mendota has been bought by Starved
Rock Wood Products, a newly formed subsidiary of CL Enterprises LLC, a private equity and holdings company.
CL Enterprises announced the deal Wednesday. Illinois Valley Millworks had filed for Chapter 11 bankruptcy last summer. The company says IVM’s 18 employees and founder, Keith Miller, will continue as employees of Starved Rock Wood Products.
CL Enterprises is owned by Inga Carus and Peter Limberger. They say they want to grow and expand the business.
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