Calder Capital is pleased to announce that Buchanan, MI-based GP Manufacturing has been acquired by Central Industrial Manufacturing, a precision CNC manufacturing company based in Harbor Springs, Michigan.
Gordon “Butch” Payton established GP Manufacturing out of pure demand in 1995. After making his first few parts for a friend in need of a favor, it was not long before word of his services spread and Mr. Payton was flooded with various jobs and quoting requests. GP Manufacturing differentiates itself with its quality and ability to start from scratch on any project and build new, creative designs and prototypes.
Mr. Payton was pleased with the transition stating, “The entire process took only a little longer than 7 months from initially reaching out to Calder to closing which was less than I expected. The team was great to work with, not only quick to respond but very knowledgeable and helpful. I look forward to ensuring a smooth transition for Central Industrial.”
Max Friar, Managing Director at Calder Capital had some commentary on the deal, “GP Manufacturing is a traditional example of a homegrown company that with a focus on quality and a dedication to a customer-focused approach has served an established customer base for many years. The Company will be a great fit and should integrate smoothly with Central Industrial Manufacturing.”
Friar has noticed an uptick in M&A activity in March. “As soon as the sun comes out buyers and sellers seem to perk up and the pace intensifies. Look for a strong Q2 market as potential sellers look to capitalize on current conditions in the face of some future uncertainty.
Central Industrial Manufacturing is a certified woman-owned precision CNC machine shop, specializing in custom prototype and low to mid-volume production runs. The Company has a wide variety of capabilities and boasts AS9100 Rev D and ISO9001:2015 Certifications among other quality assurance and contractual certifications.
As a result of this acquisition, Central Industrial Manufacturing will acquire not only the clients, assets and custom tooling abilities of GP Manufacturing, but also an dedicated, trustworthy and experienced team.
Calder Capital, LLC served as the exclusive M&A Advisor for GP Manufacturing, Inc. GP Manufacturing engaged Calder in the fall of 2018 and the transaction closed in March 2019. It was our team’s 3rd closing of the year.