Blackford Capital's Michigan Prosperity Fund Acquires Quality Aluminum Products

National Private Equity Firm Capitalizes on Regional Growth Potential in Midwestern Manufacturer

Jan 25, 2016, 09:30 ET from Blackford Capital

GRAND RAPIDS, Mich., Jan. 25, 2016 /PRNewswire/ -- Blackford Capital, a national private equity firm headquartered in Grand Rapids, Mich., today announced its investment in Hastings, Mich.-based Quality Aluminum Products (or "Quality"), a leading manufacturer of residential exterior aluminum products. The transaction is the seventh by Blackford's Michigan Prosperity Fund, which invests exclusively in Michigan companies to generate best-in-class equity returns and support the Michigan economy.

With nearly 50 years of experience in the building products industry, brothers George and Bob Clark founded Quality Aluminum Products in 1990. Quality's products are sold primarily into the housing industry and include aluminum rain carrying systems, roof edging, fascia and soffit, trim coil, siding and other exterior aluminum products. The company has differentiated itself through the breadth and quality of its product portfolio, custom manufacturing capabilities, and customer service expertise.

Over the past five years, the Clark brothers have progressively transitioned their responsibilities to their sons Mike, Bob and Eric Clark. Mike Clark will continue to serve as the company's President, while Bob and Eric Clark will remain in their current roles on the management team.

"Quality's products are widely regarded within the industry to be some of the highest quality exterior aluminum products available today. Quality is unique because it has the production capabilities of a much larger company, while still maintaining industry-leading delivery services and customer care," said Martin Stein, founder and managing director of Blackford Capital. "The company has achieved a leading presence throughout the Midwest, but we see opportunities for additional growth in this region, along with significant prospects in the Southeast and Central West United States. These additional areas represent larger markets within the industry, and we are excited by the potential to significantly increase the company's geographic capabilities and presence. This growth will result in immediate job opportunities for employees at the company."

Today, Quality Aluminum Products has 80 employees and operates out of two manufacturing sites, including their 87,000-square-foot facility in Hastings, Mich. and 35,000-square-foot facility in Flat Rock, Mich. The vast majority of the company's production occurs at the Hastings facility, while the Flat Rock location provides manufacturing for high-volume products as well as a distribution facility and presence on the east side of Michigan.

"We're very pleased to be partnering with the Blackford team and are excited by the plans for growth that we jointly intend to accomplish," said Quality President Mike Clark. "We already have tremendous range as a company, and our plans for expansion outside of the Midwest will only contribute to our depth. Working with Blackford, we plan to continue our positive momentum as they provide our team with the right resources and talent to expand our reach and take our business to the next level of performance and growth."

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. Fenton-based Burgaflex, Grand Rapids-based Custom Profile, Inc., Metro Detroit-based Mopec, Grand Haven-based Grand Transformers, Inc., Grand Rapids-based Dickinson Press, and Hudsonville-based Grand Equipment are the other six companies currently in the fund.

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 middle-market manufacturing, distribution and service companies, with eight 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 Quality Aluminum
Founded in 1990, Quality Aluminum Products is a family owned and operated manufacturer and distributor of a broad range of exterior aluminum building products. Headquartered in Hastings, Mich. With a second location in Flat Rock, Mich., Quality Aluminum offers aluminum siding, soffit, fascia, trim coil, rain carrying systems and other products. To learn more about the company, visit www.qualityaluminum.com.

SOURCE Blackford Capital



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