GRAND RAPIDS, Mich., March 4, 2013 /PRNewswire/ -- A group of prominent businessmen met last month to discuss the evolution of private equity investing in Michigan. Hosted by the Association for Corporate Growth Western Michigan, and moderated by Martin Stein, founder and managing partner of Blackford Capital, LLC, the event focused on the growing use of private equity investment in Michigan, as well as the increasing allocation of state government dollars being used to support private equity investing in the state.
Mike Flanagan – Michigan Economic Development Corporation
Doug Kearney – Glencoe Capital
Michael Kell – Credit Suisse Customized Fund Investment Group
Russ Youngdahl – Northstar Capital, LLC
"The State of Michigan has been at the forefront of manufacturing for decades, and Michigan is in the top quartile of states for private equity investing," said Stein. "However, Michigan's own private equity community and infrastructure is lacking. The purpose of this panel was to provide the West Michigan investment and business community with an understanding of where the State currently stands in terms of private equity investing and how bright the future looks. We believe that the Michigan Prosperity Fund is a perfect vehicle to provide investors with a great asset class investing in tangible assets within our great state."
Blackford Capital created its Michigan Prosperity Fund in 2012 to generate meaningful equity returns for investors, and to support the Michigan economy by protecting and creating jobs within the state by halting the export of capital out of Michigan. To date, the fund has secured $7 million in investor commitments.
About Blackford Capital
Blackford Capital is a private equity firm based in Grand Rapids, Mich., that acquires, manages and builds middle-market manufacturing, distribution and service companies, with seven portfolio companies operating in 13 states employing more than 950 people and with combined revenues of approximately $225 million. Blackford has offices in Grand Rapids (headquarters) and Los Angeles, Calif. For more information, visit www.blackfordcapital.com.
About ACG Western Michigan
The Association for Corporate Growth is where people who are serious about business go to connect, share and learn. Our meetings feature thought-provoking speakers who speak directly to the concerns of high-growth, mid-size businesses. From effectively investing for growth to enhancing valuations and managing change, your concerns form our agenda. ACG is where local deals are discussed, dissected and, quite often, done. Simply put, ACG is business networking for grownups.
SOURCE Blackford Capital