Jireh Metal Products Acquired by Local Investor Group

Company Announces Plan to Achieve MBE Certification, Adds Jobs

May 19, 2015, 10:00 ET from Jireh Metal

GRANDVILLE, Mich., May 19, 2015 /PRNewswire/ -- Jireh Metal Products, a certified manufacturer of progressive metal stampings, fabrications and assemblies for the office furniture, hardware and automotive industries, today announced it has been acquired by a group of local investors led by Michael Davenport, Andy Otteman and Gregory VandenBosch. The seller, Ron Wierenga, who has led the company since 2000, will retain an ownership share and have an active role in the development of customer relationships. Terms of the deal were not disclosed.

With more than 30 years in business, Grandville, Michigan-based Jireh employs nearly 100 people and operates two manufacturing facilities totaling nearly 120,000 square feet. The new owners look to implement leadership strategies and operating best practices to grow the traditional manufacturing company. The deal was financed by Mercantile Bank and Grand Rapids-based StreamSong Advisors played a key role in the deal structure.

Davenport, a Grand Rapids native, will lead Jireh as president and CEO.  

"Jireh's current products and customer base provided our team with a solid platform and the potential to grow with existing customers. We have a great opportunity to extend our relationships with these partners," said Davenport. "While we retained all of Jireh's employees in the transition, we are also looking forward to adding additional staff to expand our areas of expertise and industry knowledge."

Davenport most recently served as the director of community development for First Financial Bank in Cincinnati, where he led the bank's community development strategy. Prior to that, he served as a regulatory attorney for First Financial, Fifth Third Bank and U.S. Bank, where he managed the implementation and review of consumer lending legislation.

Otteman will serve as director of new business development, and will lead the charge to enhance the customer experience and assist with problem solving to build on Jireh's industry relationships. His experience and insights gained both at Herman Miller and tech start-up, Parnunu, are now being applied in the metal product manufacturing sector.

As part of the new ownership structure, the company plans to pursue Minority Business Enterprise (MBE) certification. Certification will allow Jireh to provide support to many companies, including current customers, that have supplier diversity programs in place and those that recognize that a diverse supply base offers a competitive advantage in today's multicultural business economy. 

Kevin Paul, senior vice president of commercial lending at Mercantile Bank, said, "Providing acquisition and growth capital for proven leaders like the new Jireh Metal Products team is a perfect fit for the Mercantile business model and our local focus. We are pleased to support what we expect will be a West Michigan success story."

"Our team has done extensive due diligence on Jireh and knows the business inside and out. With Ron's involvement and guidance, Jireh will be able to continue in the direction that has allowed Jireh to grow with its partners," said Davenport. "We're confident that we'll be able to reach the company's growth targets."

About Jireh Metal

Grandville, Michigan-based Jireh Metal Products is a certified manufacturer of progressive metal stampings, fabrications and assemblies for the office furniture, healthcare, automotive, commercial hardware and residential hardware industries. With more than 30 years in business, the company employs has nearly 100 employees with two manufacturing facilities totaling nearly 120,000 square feet. Jireh's capabilities are designed for maximum efficiency allowing for optimal customization to best suit specific client needs. For more information visit www.jirehmetal.com.

 

SOURCE Jireh Metal



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