|By PR Newswire||
|August 4, 2014 01:30 PM EDT||
FENTON, Mich., Aug. 4, 2014 /PRNewswire/ -- Blackford Capital, a national private equity firm headquartered in Grand Rapids, Mich., today announced its investment in Fenton, Mich.-based Burgaflex North America, a leading manufacturer of coolant system tube and hose assemblies serving the heavy truck, agricultural and off-road markets. The transaction is the fourth by Blackford's Michigan Prosperity Fund.
Burgaflex NA currently employs 350 people at its 200,000-square-foot facilities and serves heavy equipment customers including Caterpillar Inc., Deere & Company (John Deere), AB Volvo and Daimler Group.
"Burgaflex is a perfect fit for the Michigan Prosperity Fund," said Martin Stein, managing director of Blackford Capital. "The company's focus on exceptional customer service and quality manufacturing has helped it build a strong reputation and a great growth trajectory. Our investment will help to grow the business and also bring jobs to one of the areas of Michigan hardest hit during the economic recession. We look forward to participating in the long-term success of both Burgaflex and the greater Flint region."
"Blackford Capital is exactly the partner we were looking for to help us strengthen our business and achieve our long-term growth objectives," said David Kennedy, CEO of Burgaflex NA. "Their investment in Burgaflex will be good for the company, our employees and our community as we expand our operations, create new jobs and bring added products and resources to our customers."
The Michigan Prosperity Fund, created in 2012, invests in Michigan companies to generate best-in-class equity returns, and also supports the Michigan economy by protecting and creating jobs locally. Grand Rapids-based Custom Profile, Inc., Metro Detroit-based Mopec, and Grand Haven-based Grand Transformers, Inc. are the other three companies currently in the fund.
Burgaflex NA began operations in 2004 and both owners, Kennedy and David Bubnar, will remain with the company following Blackford's acquisition. Kennedy will continue to serve as CEO and Bubnar as a consultant.
Mercantile Bank Corp. and Capitala Finance Corp. provided financing for the transaction.
Blackford Capital also announced, in line with its commitment to support its management teams and the expansion of the business, that it has named 10 people to the Burgaflex board of directors:
- Martin Stein, Blackford Capital
- David Kennedy, Burgaflex
- David Bubnar, Burgaflex
- Fred Hubacker, Conway MacKenzie
- Birgit Klohs, The Right Place
- Larry Miller, Crystal Associates
- Rick Granata, Ford Motor Company (retired)
- Tom Saeli, JRB Enterprises
- Todd Courts, Pace Trailer
- Johann Finkelmeier, Goodyear
About Blackford Capital
Blackford Capital is a private equity firm based in Grand Rapids, Mich., that acquires, manages and builds middle-market manufacturing, distribution and service companies, with seven portfolio companies that employ more than 1,300 people and generate combined revenues of approximately $225 million. Blackford has offices in Grand Rapids (headquarters) and Santa Monica, CA. Blackford Capital reviewed roughly 3,400 transactions in 2013, and has closed 27 transactions in the past seven years. Burgaflex is Blackford's seventh portfolio company and its fourth in Michigan. The firm's investment criteria includes mature, profitable businesses with revenues between $20 million and $100 million, and with management teams that are either willing to remain with the company or are seeking to retire. For more information, visit www.blackfordcapital.com.
About Burgaflex NA
Burgaflex NA is a leading manufacturer of tube and hose assemblies for the heavy truck and agriculture markets. Since 2004, Burgaflex has been meeting the growing needs of a diverse range of customers by focusing on manufacturing quality products at competitive prices. For more information, visit www.burgaflexna.com.
SOURCE Blackford Capital
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 26, 2017 03:15 PM EDT Reads: 1,413
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 26, 2017 03:00 PM EDT Reads: 1,149
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
Apr. 26, 2017 02:45 PM EDT Reads: 420
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 26, 2017 02:30 PM EDT Reads: 1,428
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 26, 2017 02:30 PM EDT Reads: 363
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 26, 2017 01:45 PM EDT Reads: 891
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Apr. 26, 2017 01:45 PM EDT Reads: 2,368
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
Apr. 26, 2017 01:30 PM EDT Reads: 516
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Apr. 26, 2017 01:30 PM EDT Reads: 584
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 26, 2017 01:30 PM EDT Reads: 1,154
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 26, 2017 01:00 PM EDT Reads: 3,524
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 26, 2017 12:45 PM EDT Reads: 1,121
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 26, 2017 12:45 PM EDT Reads: 4,881
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Apr. 26, 2017 12:30 PM EDT Reads: 2,647
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 26, 2017 12:30 PM EDT Reads: 709