Blackford Capital, a Grand Rapids-based national private equity firm, has acquired Custom Profile, Inc., a manufacturing firm also located in Grand Rapids. The acquisition sets the stage for future growth and new jobs for the region.
According to Martin Stein, founder and managing director of Blackford Capital, the purchase is a win/win scenario. "Custom Profile is a very successful local business. It has been around for 20 years. The company reached a point where they needed another partner, and that is what our focus is as a firm," he says. "We invest in firms and help them grow. The goal is in 2-3 years to create 25-35 jobs including manufacturing setup, project engineers and quality engineers."
Custom Profile will also become the first company in Blackford's new and innovative Michigan Equity Investment Fund. "The fund is a dedicated equity fund with the purpose of allowing Michigan-based investors to invest in Michigan-based companies. There is no other private equity looking at deals in the size range in the state," explains Stein.
Custom Profile serves the appliance and office furniture industry and currently employes 165 people. To learn more about Blackford Capital, you can visit their site here.
To learn more about Custom Profile, you can visit their site here.
Source: Martin Stein, Blackford Capital
Writer: John Rumery, Innovation and Jobs News Editor