Blackford Capital, a national private equity firm headquartered in Grand Rapids, Mich., today announced its investment in Chesterfield, Mich.-based Davalor Mold Corporation (Davalor), a leading manufacturer of injection molded plastic products. Talmer Bank provided financing for the transaction, which is the eighth by Blackford's Michigan Prosperity Fund, which invests in Michigan companies to generate best-in-class equity returns and support the state's economy.

With nearly 40 years of experience in the injection molded plastic products industry, brothers Dave, Orm, and Al Bernhardt founded Davalor in 1979. Davalor's products are primarily sold to the automotive sector and include crucial safety equipment, such as seatbelt retractor components, buckle covers, webbing guides, air bag systems, and other products. In addition to its wide range of quality products, Davalor also sets itself apart from the competition with custom manufacturing capabilities and exceptional customer service.

"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.

 

Source : prnewswire.com

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