Nelson Schmidt Acquires Waldbillig & Besteman

Seeking growth in a slow economy and diversified offerings in a cut-throat competitive arena, Waldbillig & Besteman has agreed to sell to Nelson Schmidt in a deal that will keep both agency names alive, executives said.

Nelson Schmidt majority owner Dan Nelson Sr.’s addition of W&B in Madison, Wis., adds an estimated $23 million in billings. The company will claim total billings of $65 million, Nelson said.

Along with the acquisition comes a revamped executive team that sets a succession plan in place for Milwaukee-based Nelson Schmidt.