"We believe that Davalor's production processes and in-house tooling and engineering capabilities make it one of the most versatile injection molded plastics producers in the industry today," said Martin Stein, founder and managing director of Blackford Capital. "Its strategic location in the Metropolitan Detroit area allows the Company to provide its customers with technical input early in the product development process, while also offering cost-effective support to its Tier 1 customers. The Company has established a strong presence in the automotive manufacturing industry throughout the United States, and we see opportunities for continued growth in this region, along with significant customer expansion into Mexico. We are excited by the opportunity to not only drive growth at Davalor, but also offer new jobs and advancement opportunities for current employees."
Today, Davalor has over 200 employees and operates out of two manufacturing sites, including its 100,000-square-foot corporate office and production facility and its 53,000-square-foot tooling and engineering facility – both located in Chesterfield.
"We're thrilled to work with Blackford team and look forward to working with the team there to execute our plans for growth," said Davalor Founder Dave Bernhardt. "Through our partnership with Blackford, we expect Davalor to continue its positive momentum in providing the right resources and vision to expand our operational capabilities and customer base, which will take our business to the next level."
The Michigan Prosperity Fund, created in 2012, invests in Michigan companies to generate best-in-class equity returns and also supports the Michigan economy by protecting and creating jobs locally. Current investments include: Fenton-based Burgaflex, Grand Rapids-based Custom Profile, Inc., Metro Detroit-based Mopec, Grand Haven-based Grand Transformers, Inc., Grand Rapids-based Dickinson Press Inc., Hudsonville-based Grand Equipment Company, and Hastings-based Quality Aluminum Products.
About Blackford Capital
Winner of the 2015 M&A Advisor Deal of the Year award, Blackford Capital is a private equity firm based in Grand Rapids, Mich., that acquires, manages and builds family-owned, lower middle-market manufacturing, distribution and service companies, with 11 portfolio companies across the country. The firm has offices in Grand Rapids (headquarters) and Santa Monica, CA. Blackford reviewed roughly 4,500 transactions in 2015, and has closed over 40 transactions in the past ten years. The firm's investment criteria includes mature, profitable businesses with revenues between $20 million and $100 million, with management teams that are either willing to remain with the company or are seeking to retire. For more information, visit www.blackfordcapital.com.
About Davalor Mold Corporation
Founded in 1979, Davalor Mold Corporation is a manufacturer and distributor of injection molded plastic products. Headquartered in Chesterfield, Michigan, Davalor offers a wide variety of molded plastic products found in OEM level automotive corporations, which are supplied by Tier 1 automotive suppliers. To learn more about the company, visit www.davalor.com.
About Talmer Bank
Headquartered in Troy, Michigan, Talmer Bancorp, Inc. is the holding company for Talmer Bank and Trust. Talmer Bank and Trust operates through 80 branches in Michigan, Ohio, Indiana, Illinois and Nevada, and 3 lending offices located primarily in the Midwest. Talmer offers a full suite of commercial and retail banking, mortgage banking, wealth management and trust services to small and medium-sized businesses and individuals. For more information, visit www.talmerbank.com
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SOURCE Blackford Capital