ROCHESTER HILLS, Mich., Aug. 24, 2011 /PRNewswire/ -- Coupled Products, a Michigan-based supplier of tubular fluid routing products for the automotive, construction, agricultural and appliance industries, has posted net income growth every year since it was purchased indirectly from the then bankrupt Dana Corporation in 2007.
"As the auto industry contracted, it was hard to watch companies like Dana falter," said Brad Ginsberg, who with his business partner David Sinclair purchased the division through their Northbrook, Illinois-based venture group SG Industries, Inc. "The unit was losing tens of millions of dollars during its last few years. We saw an opportunity to save more than 600 jobs and reposition the group."
Within an intense, competitive environment, Ginsberg and his management team established Coupled Products as a profitable, responsive and technically capable supplier through successful techniques Ginsberg had used to turn around companies in other industries. During this process Coupled Products sold off unprofitable product lines or those that would be featured less in future vehicles. They focused on core capabilities and expertise in tubing, tube and hose assemblies, machining, and plating. They expanded into new industries including construction, agriculture and appliance. They began marketing and selling products and services that previously served only as a part of Coupled Product's internal vertical integration, including plating, brazing, machining and testing. And, the company strengthened its production, engineering and sales capabilities through its manufacturing facilities in Indiana and Mexico. The result has been a smaller, stronger and healthier $70 million company.
Ginsberg, who received his undergraduate degree from Michigan State before earning his law degree from Emory University in Atlanta, has more than two decades of experience in investing in, restructuring and revitalizing distressed companies. He remains bullish on the auto industry and the state of Michigan having, in short order, molded a failing, unprofitable Dana division into a thriving and entrepreneurial private company. "The auto industry in North America is and will remain an important sector for Coupled Products," said Ginsberg. "It's innovative, dynamic and demanding, and that pairs well with both our capabilities today and our vision for tomorrow."
SOURCE Coupled Products