An out-of-state company has acquired a sheet metal fabricator in the region.
South Bend, Indiana-based Parker Holding this month acquired Niles-based CNC Products, according to Grand Rapids-based Calder Capital.
Calder Capital served as the M&A advisor to CNC Products. This represents Calder’s sixth closing of 2019.
Gerri Davis-Parker, president and CEO of Parker Holding, said her firm is pleased to be acquiring CNC Products.
“We are pleased and excited to work with the existing team at CNC Products to begin investing in the company’s future," Davis-Parker said. "Calder Capital’s assistance in closing the transaction is greatly appreciated.”
Founded in 1987 by Fritz Knauf, CNC Products provides sheet metal fabrication services — from brackets and shrouding to complete cabinetry — to a diverse customer base, including the medical, industrial, automotive, food and dairy, transportation and electronics markets.
CNC Products is ISO 9001:2008 certified at its sole facility in Niles, at 2126 S. 11th St.
The company has 15 employees.
Founded in 1946, Parker Holding acquires and manages “solid” lower- and middle-market companies that are generally family-owned and without a succession plan or successor in place.
Parker Holding looks to improve efficiency and profitability, while growing the market share of each acquisition.
The company’s focus is keeping longstanding employee teams together to ensure continuity of customer service and to maintain a cohesive workforce.