Enterprise Tool & Die, Inc. has sold the assets of the company to a subsidiary of North Central Equity LLC, based in Minneapolis, Minn. Approximately 50 people work at the Grandville operation, located at 4270 White St. Enterprise Tool & Die, Inc. is a leading designer and manufacturer of medium-size progressive and transfer dies. Founded in 1961, the company primarily sells to the automotive industry but also the furniture, appliance, and outdoor equipment markets. Services include engineering, project management, simulation, CAD design, and CNC programming and machining.
Russ Wiersma, president of Enterprise, said, “Employees and customers have the opportunity to continue working with Enterprise while the selling shareholders are able to retire. We appreciate BlueWater’s (Cascade Partners) expertise in helping us negotiate a creative alternative that has resulted in a win-win situation for customers, employees and the West Michigan community.”
“Enterprise has a well-deserved reputation for high quality service and products,” said Elam Baer, the CEO of North Central Equity. “We are proud to add this business to our family of companies.”
“This will be the twelfth acquisition for North Central,” added Elam Baer. “North Central continues to search for other companies to acquire. We were impressed by the long history and excellent reputation of Enterprise and would like to find other companies to acquire with similar impressive credentials.”
North Central Equity LLC is a Minneapolis, Minnesota-based privately owned holding company, established in 2004. It has completed 12 acquisitions and currently has six operating subsidiaries.
Cascade Partners (BlueWater Partners) acted as the exclusive financial advisor to Enterprise Tool & Die, Inc.
Update: BlueWater Partners has joined Cascade Partners. Read more here.