Churchill Technologies acquired by Huizenga Group

Churchill Technologies acquired by Huizenga Group

Churchill Technologies acquired by
Huizenga Group
GRAND RAPIDS, Mich. – April 21, 2022– NuVescor Group is pleased to announce the successful sale of Churchill Technologies to the Huizenga Group.

Churchill Technologies, based in Grand Haven, is an automation company which designs and builds special purpose assembly and test equipment. The machines that Churchill builds utilize many automation technologies, including robotics, advanced motion systems, machine vision systems, component and assembly conveyance applications.

The Huizenga Group, based in Grand Rapids, is a privately held firm providing management services to a diverse group of companies involved in tool & die, pharmaceutical packaging and serialization, machined metal parts, electrical contracting, highly engineered automotive component manufacturing and automation industries.

Steve Klotz, President of Huizenga Group, commented, “What Tim and the entire team at Churchill have accomplished is very impressive. We’re excited to come alongside them and support the team.”

Churchill Technologies owner and president Tim Walker said the Huizenga Group’s knowledge of industrial automation and proven track record make them a “perfect fit” to buy his Company.

“I believe we have established a solid customer base by providing well-engineered solutions to complex manufacturing problems,” said Walker, who founded the Company in 2003. “The time is right to offer these solutions on a larger scale, and we needed support to make this happen.

“We expect to see our company grow in current and new markets as we embark upon this new opportunity,” Walker added.

Churchill Technologies was assisted in the transaction by NuVescor Group, a West Michigan mergers and acquisitions service company.

“Getting to know our clients is key to understanding what type of buyer to look for, and this was proven out again as we celebrate the next steps Churchill is taking with the Huizenga Group,” said Travis Ernst, NuVescor’s Operations Manager. “Mr. Walker is able to leverage assets and resources he didn’t have available to him before, and it will be exciting to see the impact on the company, the employees and the customers.”

About Churchill Technologies

Churchill Technologies is a manufacturing automation company with specific expertise in piston, ring, wrist pin and connecting rod assembly. The Company enables manufacturers to compete in a global environment through development of state-of-the-art automated high-volume sub-assemblies, cutting-edge automated gauging systems, and integration of leading industrial robots. For more information, please visit churchill-tech.com.

About the Huizenga Group

Founded in 1985, the Huizenga Group provides management services to a portfolio of companies that provide products and services for the world’s leading automation, security, automotive, pharmaceutical, medical device, consumer goods and office furniture manufacturers. For more information, please visit huizengagroup.com.

About NuVescor Group

NuVescor Group, based in West Michigan, is a distinguished mergers and acquisitions service company that partners with other professional service providers to present the full array of disciplines needed to have successful and timely business transactions. NuVescor utilizes a proprietary proven process that greatly increases the success rates for business transactions as well as the customer experience. For more information, please visit nuvescor.com.

###

IEQ Industries acquired by Gallagher Fluid Seals, Inc.

IEQ Industries acquired by Gallagher Fluid Seals, Inc.

IEQ Industries acquired by
Gallagher Fluid Seals, Inc.

GRAND RAPIDS, Mich. – April 25, 2022– NuVescor Group is pleased to announce the successful sale of IEQ Industries to Gallagher Fluid Seals, Inc.

IEQ Industries is a distributor of new, used and remanufactured pumps, pump parts and pump packages for various commercial and industrial applications, including oil and gas production, around the world. Though the owner is in Grand Rapids, all staff work remotely from home offices, so there are no Company facilities.

Gallagher Fluid Seals is a global distributor and manufacturer of fluid sealing products that has grown substantially over the past seven years both organically and through acquisition. The Company has its headquarters in King of Prussia, Pa., and a gasket fabrication and sales office in East Longmeadow, Ma.

Chief Executive Officer Chris Gallagher said IEQ Industries is a growing company in strategic end markets for Gallagher Fluid Seals, and the purchase provides for significant diversification of the company’s product mix. He also cited IEQ Industries’ focus on high pressure pumps and components, its ownership of multiple Internet domain names and its CXI platform, an enterprise asset management system it developed for pump end users.

Gallagher said he plans to continue IEQ Industries’ growth. “The slate of digital assets that came along with IEQ are an opportunity I will be spending a lot of time with the team over the coming weeks and months developing strategies to further expand,” he said.

“While our expressed goal is to diversify our product mix, having crossover in market segments allows both IEQ and Gallagher Fluid Seals to benefit from historical customer relationships. From an operating perspective, it is fantastic that the entire IEQ team will be able to stay in place and help us continue to invest and grow this business.”

IEQ Industries Owner Joseph Bichler said he’s been working for the last six years to position the Company to run without him so he could retire and ensure the business’s continued success.

“We worked to put systematic and documented business practices in place while continuing to focus on growth,” he said. “My team took leadership and officer roles.  The timing was right for me personally, too. I was ready to retire and enjoy more time with my family and pursue new interests.”

Under the new owners, “the sky is the limit” for IEQ Industries, he said.

“It was clear that this was a strategic buyer who saw the synergies and pathways for creative growth,” Bichler said. “Chris Gallagher and the IEQ team are already strategizing. It will be exciting to see.”

IEQ Industries was assisted in the transaction by Nuvescor Group, a West Michigan mergers and acquisitions service company.

“It is always exciting when a fit is confirmed between the buyer and seller, and this was the case with IEQ and Gallagher Fluid Seals,” said Travis Ernst, Nuvescor’s Operations Manager. “Part of our process is understanding the ideal buyer for our client, and in this case, we were able to find the right buyer who can take what Mr. Bichler has built in IEQ and bring it to the next level.”

About IEQ Industries

IEQ Industries, established in 1988, produces no pumps or parts itself but maintains well-established relationships with suppliers to purchase OEM and aftermarket pumps, complete customer specific turn-key pump packages and parts for resale to customers on all seven continents.  In addition to the energy industry, its products are used in applications including water treatment, reverse osmosis/desalinization, agriculture, waste management and car washes.

About Gallagher Fluid Seals, Inc.

Founded in 1956, Gallagher Fluid Seals represents the strongest seal manufacturers in the world, in addition to operating its own gasket fabrication facility. It serves both original equipment manufacturers and maintenance, repair and operations customers through the development of technical solutions that solve sealing challenges.

About NuVescor Group

NuVescor Group, based in West Michigan, is a distinguished mergers and acquisitions service company that partners with other professional service providers to present the full array of disciplines needed to have successful and timely business transactions. NuVescor utilizes a proprietary proven process that greatly increases the success rates for business transactions as well as the customer experience. For more information, please visit nuvescor.com.

###

 

Wright-K Technology, Inc., acquired by Koops Automation Systems

Wright-K Technology, Inc., acquired by Koops Automation Systems

Wright-K Technology, Inc., acquired by
Koops Automation Systems

GRAND RAPIDS, Mich. – March 31, 2022 – NuVescor Group is pleased to announce the successful sale of Wright-K Technology, Inc., based in Saginaw, Mich., to Koops Automation Systems, of Holland, Mich. Both companies design and build custom industrial machinery, with Koops’ specialty being innovative automation systems and equipment for manufacturers.

Paul Brinks, president and CEO of Koops, said Wright-K Technology is a good match for Koops because of its technical expertise and strong employee culture. “Wright-K has a long history of welding excellence, and welding is a technology area that meshes with Koops’ focus on automation systems, creating a true win for our combined customer base,” Brinks said. “The integration of Wright-K and Koops will position us to provide our customers a broader portfolio of rock-solid solutions from a trusted partner.”

Founded in Holland in 1989, Koops offers full service and support for each of its automation systems, and tailors them to its clients’ unique specifications. By incorporating the latest robotic and motion control technology, coupled with innovative tooling design, the company provides a flexible environment that is unmatched in high-volume production of quality parts. The company will celebrate 10 years as an employee-owned company, or ESOP. “Team is our first core value at Koops, and having the Wright-K team join the Koops team is a true blessing and benefit,” Brinks noted. “I am confident that the acquisition will enhance the culture of both organizations. We are looking forward to the journey ahead and excited to add additional employee owners.”

In addition to its Holland facilities, and now the former Wright-K Technology operations in Saginaw, Koops has locations in Greenville, S.C., and Irapuato, Mexico.

Wright-K Technology, with roots dating back to 1910, specializes in welding, assembly, test and heat-treating systems and has an extensive background in controls systems and architecture. It is nationally and internationally known as a premium supplier to industries including automotive, aerospace, appliance, logistics, recreational, and commercial and household products.

For the co-owners of Wright-K Technology, Connie Kostrzewa and John Sivey, integration with Koops achieves their goals of continuing service to employees, customers and their community. “John and I wanted to leave our legacy to people that would continue these values, and what better way than to leave the company to our employees through the ESOP that will be provided with Koops?” said Kostrzewa, Wright-K Technology’s chairperson.

Sivey, the company’s president/CEO, said the sale to Koops “provides a stable future for our employees by partnering with a solid, forward-thinking, well-established organization.”

Brinks praised Kostrzewa and Sivey for their leadership at Wright-K Technology and their passion for the Saginaw community. “We plan to build on the strong Wright-K foundation by investing and growing the team in Saginaw, to better serve our customers,” he said.

About Wright-K Technology

Wright-K Technology, based in Saginaw, Mich., designs and builds custom industrial machinery. It excels in building safe, trouble-free and highly flexible machines that meet the performance and durability specifications for OEM, Tier 1 and Tier 2 suppliers all over the globe. For more information, please visit wright-k.com.

About Koops Automation Systems

Koops, founded in Holland in 1989, designs and builds innovative automation systems and equipment for world-class manufacturers across a broad array of industries. Koops offers full service and support for each of its systems, and tailors them to its clients’ unique specifications. For more information, please visit koops.com.

About NuVescor Group

NuVescor Group, based in West Michigan, is a distinguished mergers and acquisitions service company that partners with other professional service providers to present the full array of disciplines needed to have successful and timely business transactions. NuVescor utilizes a proprietary proven process that greatly increases the success rates for business transactions as well as the customer experience. For more information, please visit nuvescor.com.

###

Strategies for Successful Manufacturing M&A

Strategies for Successful Manufacturing M&A

As M&A in manufacturing heats up, rising interest rates and inflation serve to reduce the potential value of these mergers, especially without good planning. A thoughtful strategy can help generate value via M&A. Here are some critical tips to keep in mind.

Start Early and Plan Ahead

A merger demands time and expertise, and the more of both you have, the better positioned you will be to manage problems as they arise. Bring in the right teams early to prepare for the sale as well as the post-sale integration. Intelligent dealmakers are constantly re-evaluating ways to fast-track the realization of the promised deal synergies.

Optimize Digital Opportunities

Keep an eye on potential automation and digital opportunities that could boost transaction efficiency. One recent McKinsey report suggests that reducing the costs of traditional legacy systems may offer about a 2% boos tin value. Adding additional digital and analytics technologies to boost efficiency may generate savings as high as 4-5%.

Identify and Address Staffing Implications Early

Workforce implications to a deal should not be an afterthought. You must focus on strategies for retaining talent, even when doing so increases costs. Contract talent increases integration risks. It’s better to spend a little more upfront on retaining key talent. Consider it an investment in the future of the new entity.

Adapt to the Needs of the Business

Too often, dealmakers attempt to adapt the business to the needs of the deal rather than the other way around. Your targets should be tailored to the needs of the business. Develop specific benchmarks for measuring success, and continue to adapt these benchmarks based on real-world data.

Simplify Technological Complexities

Manufacturing mergers often trigger significant and complex technological challenges. These strategies can help simplify:

  • Nurture a flexible data and transaction architecture.
  • Leverage proven integration patterns rather than trying to invent your own.
  • Cloud-first always. Cloud-based technologies save time, money, and frustration.
  • Create a standalone mirror copy to test new technology before attempting to fully transition or integrate.

In an uncertain world, intelligent planning is critical to the success of manufacturing M&A. Your plan must be well-planned, well-executed, and fully informed by the realities of your niche. Expert insight can help you ensure your deal is prepared to meet the challenges of the post-pandemic world, and protected against the looming specters of inflation, rising interest rates, and a pandemic backslide.