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Michigan plastics firm announces $2.28M investment, 54 new jobs

Thursday, Dec 22, 2016

Custom Profile, Inc. announced it will be moving the production from a Wisconsin company it recently acquired to its operations at 2535 Waldorf Court NW.

The company is expected to add 54 new jobs and invest $2.28 million to support the relocation over the next three years, according to an announcement by the Right Place Inc.

Custom Profile, which is owned by Blackford Capital, Inc., announced the purchase of privately held Bemis Manufacturing of Sheboygan Falls, Wis. earlier this year. Terms of the sales were not disclosed.

Founded in 1992, Custom Profile specializes in extruded plastic projects for the appliance, office furniture, automotive, energy, point-of-purchase, and marine industries.

With more than 180 employees, Custom Profile also provides design support and in-house tooling development.

"After the acquisition of the company, Custom Profile had several options on the future location of the business," said Jen Wangler, business development manager of The Right Place, Inc.

"Custom Profile could have kept the operations in Wisconsin or moved them elsewhere. Instead, working together, we were able to bring the operations here to West Michigan."

The project is being support by a $216,000 performance-based grant from the Michigan Economic Development Corp.

This investment and expansion is the latest growth announcement for Custom Profile after several successful years since its acquisition by Blackford Capital, a national private equity firm headquartered in Grand Rapids.

Custom Profile was Blackford's seventh portfolio company, and its first using the firm's Michigan Equity Investment Fund.

"Since our acquisition of Custom Profile, the ownership team has met all expectations; from building a positive equity value and job creation, to creating a great workplace for our employees," said Martin Stein, Founder and Managing Partner, Blackford Capital, Inc.

"The City of Walker is proud to be home to Custom Profile and pleased to see their continued growth in Walker," said Walker Mayor Mark Huizenga, in an announcement on Wednesday, Dec. 21.

"Walker is committed to being a business friendly-community, we have no greater testimony than our businesses that continue to grow and thrive in the City. The city is grateful to The Right Place as we partner; enhancing the economic growth of our city and region."

"We are grateful for the support of The Right Place during this new phase of growth," said Jim Gorant, chief financial officer for Custom Profile, Inc.

"With all the operational complexities involved with an acquisition like this, it is extremely helpful to have an organization like The Right Place supporting us locally and ensuring we were able to move these jobs here to Walker."

 

Source: mlive.com

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