Bloomfield Hills’ Michigan Capital Advisors, a private equity firm focused on the automotive and transportation industries, today announced it has invested in Wixom’s Ventech. Terms of the transaction were not disclosed.
Ventech developed the liquid heat generator (LGH), a mobile heating technology that generates heated fluid instantaneously, reducing idling and decreasing fuel consumption and emissions. The technology also reduces vehicle warm-up times by at least 50 percent.
The company serves the automotive OEM, automotive aftermarket, school bus, mass transit, industrial vehicle and equipment applications, diesel generators, and alternative energy markets.
“LHG has been proven to be a revolutionary technology, creating instant heat by way of mechanical energy to solve a common problem across the transportation industry,” says Chip McClure, managing partner at Michigan Capital. “We are excited to partner with the Ventech team, providing an innovative solution to our target markets.”
Michigan Capital’s investment in Ventech fits one of five industry sectors targeted by the firm. This is Michigan Capital’s third investment since it was founded in 2017, including last week’s investment in Fusion Coolant Systems.
“MCA’s industry expertise and relationships open the door to new global opportunities and expand our sales reach as we transform manufacturing processes and drive the manufacturing industry forward with smart technology,” says Jeremy Sanger, CEO of Ventech. He will continue to lead the company.
Michigan Capital focuses on Tier 2 and Tier 3 suppliers in the automotive and transportation-related industries with $20 million to $200 million in revenue.