Great Lakes Metal Stamping, Inc. (“GLMS”) has completed the divestiture of its Cusseta, Alabama business to Challenge Manufacturing Company (“Challenge”), an employee-owned metal manufacturing company. The transaction will enable GLMS to focus on its core business and Challenge to expand its footprint into the southeast United States. The divestiture includes approximately 65 employees, a 90,000-square-foot facility, and eight press lines and support equipment.
Founded in 1995, Great Lakes Metal Stamping, Inc. is a full-service supplier of precision metal formed products to the appliance, automotive, and consumer products markets. From concept to launch, GLMS has the ability to supply prototype, low-volume, and high-volume stamped products. Core processes include stamping, resistance and robotic welding, and assembly.
In 1981, Challenge was founded in Walker, MI, starting with two presses, and has grown organically and significantly over the past four decades. Today, still headquartered in Walker, MI, Challenge employs approximately 3,500 team members across ten locations in North America and Asia.
Cascade Partners (BlueWater Partners) acted as the exclusive financial advisor, and Dickinson Wright acted as the legal counsel to GLMS for this transaction.
Update: BlueWater Partners has joined Cascade Partners. Read more here.