DALLAS, Sept. 25, 2018 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of the human capital arm only of its client, Manufacturing & Industrial Technologies Inc. (MIT), to Contract Professionals Inc. (CPI). The acquisition closed August 3, 2018.
MIT, based in Lake Orion, Michigan, is a business integration company. MIT is a leader in providing support services with subject matter experts and support solutions to the federal government, aerospace OEMs, space, military and defense, shipbuilding, automotive, and alternative energy industries. The support services include engineering (CAD/CAM/CAE), IT services & support, product & tool manufacturing, Product Lifecycle Management (PLM), plant floor technology, and supply chain management. The company started in 1975 with a focus on manufacturing and tooling design, and has since grown to include engineering and IT services, with a core competency in PLM. It also offers business services and resource management services, such as, staff augmentation, program management, and business process improvements.
Shelly Husek, one of MIT's most valuable employees, transitioned to CPI. She brings more than 20 years of human resource and human capital management experience to CPI.
"The acquisition of MIT gives us an opportunity to expand our service offerings and create a greater value for our job-seeking candidates including out-processing military personnel and veterans," said John Simmons, CPI Director of Business Development, who will oversee the development of MIT's client base.
Contract Professionals Inc., headquartered in Waterford, Michigan, is a privately held, service disabled veteran owned corporation with a mission to put military veterans to work. The global workforce solutions company has extensive experience providing services to the aerospace, automotive, defense, industrial, information technology, manufacturing, and telecommunication industries in its 36-year history.
"I came to CPI for the express purpose of growing the company," said CPI President Jim Cowper. "The acquisition of MIT is part of my overall plan to create a larger national footprint for CPI, by establishing a more substantial presence in our target verticals."
Generational Equity Senior Managing Director Doug Smith's team, led by Senior VP Ryan Johnson, successfully closed the deal. Senior Managing Director Roger Dean established the initial relationship with MIT.
"It was essential to MIT's owners to find the buyer best able to take on its workforce solutions operations and maintain its strong reputation for meeting its customer's contract requirements for highly-skilled and qualified personnel," said Johnson. "Both parties saw the great fit and win-win opportunity, and were very committed to making the deal happen."
About Generational Equity
Generational Equity, DealForce, and Generational Capital Markets, member FINRA/SIPC, are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America. With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services.
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