Rainier Industries names new CEO, partners with LFM Capital

Rainier Industries, Tukwila, Wash., has named Chris Inverso as CEO. Scott Campbell, Rainier’s longtime CEO, will continue as an owner and board member.

Inverso, who started with Rainier in 2014, was promoted to general manager earlier this year in a planned step to his ultimate transition to CEO.

“Rainier has a rich history, market-leading products, and a dedicated workforce. Scott Campbell set a high bar for serving Rainier’s customers and employees, and he did so in an authentic and personal way. I’m humbled to follow in his footsteps and lead Rainier into the future,” Inverso said.

Simultaneously, Rainier announced its partnership with investment firm LFM Capital, Nashville, Tenn. LFM is a private equity firm focused on U.S.-based manufacturing companies. Rainier and LFM have a shared interest in fostering a culture of continuous improvement and operational excellence. LFM embraces the diversity inherent in Rainier’s divisions and will provide expert guidance and operational support to grow the company in the years to come. Meridian Capital, Seattle, served as financial advisor to Rainier on the transaction.

“I made the initial decision to sell controlling interest in Rainier about a year ago. I tried to retire once before, and since returning as CEO in 2019, I have not been in a hurry to get back to retirement, though it has always been my goal. Successfully navigating through reinvigorating the company and more recently the pandemic, while our business has thrived has been especially fulfilling,” said Campbell.

“I will continue to be minority owner, a board member, and the landlord of our buildings in Washington state and North Carolina. I also look forward to providing ongoing support to Rainier and its executive team,” Campbell said.

“Rainier has a tremendous track record of success and we are excited to build on that legacy. Rainier’s products are differentiated in the marketplace and serve a wide variety of attractive end markets,” said Chris Lin, LFM managing director.

“We look forward to partnering with Chris Inverso and the incredible team at Rainier to leverage that successful foundation to drive growth and operational excellence,” he said.

“We are excited to partner with a company that has such a rich history. We are extremely well-aligned from a cultural perspective and Rainier’s vertically integrated manufacturing processes are very impressive,” said Ken Hoefling, LFM operating partner.

Campbell has been majority owner of Rainier Industries since 1984, when he purchased the company from his father, Robert B. Campbell. Since then, he has grown the company through acquisition and innovation as well as expanding the company’s footprint with plants in Washington State and North Carolina.

“My sincere thanks to everyone at Rainier for your loyalty, support and hard work,” said Campbell. “What a great way to celebrate our 125th anniversary.”