March 31, 2014: Blackford Capital Acquires Grand Transformers Inc.
Manufacturer Becomes Third Company in Its Michigan Prosperity Fund
GRAND RAPIDS, Mich. — Blackford Capital has announced the acquisition of Grand Haven, Mich.-based Grand Transformers Inc. (GTI), a designer and manufacturer of transformers and inductive components serving the adjustable speed drives, HVAC, energy/renewables, and other industries.
Blackford Capital, a national private equity firm headquartered in Grand Rapids, Mich. that acquires, manages, and builds middle-market manufacturing, distribution, and service companies, said the acquisition is the third in the firm’s Michigan Prosperity Fund. The fund, created in 2012, aims to generate best-in-class equity returns for investors within the state of Michigan, and also to support the local economy by protecting and creating jobs locally.