Gottliebs' Multi-Flow gets CMS cash
Huntingdon Valley-based Multi-Flow Industries gets an investment and a new CEO from CMS, Philadelphia.
» READ MORE: CMS Small-Cap Private Equity Fund
says it's made an investment (won't say how much) in Multi-Flow Industries, Bernie and Brian Gottlieb's fountain soda and juice concentrate processor in Huntingdon Valley.
The Gottliebs will "continue their involvement in the operations of the company," but Mark Stephens, a former Pepsi Bottling Group executive, says he's taking over as CEO. Multi-Flow employs 200 in Huntingdon Valley and at distributors in Pittsburgh, Baltimore, Carteret, N.J., and other cities.
CMS plans to boost wholesale and retail sales to CMS, said managing director Daniel Eisenstadt. CMS Small-Cap is an affiliate of CMS Cos., Philadelphia, and invests in companies with cash flow of under $10 million. It also owns Liberty Restaurant Group (Burger Kings in St. Louis); for-profit Beckfield College near Cincinnati; and others.