MJ VanDamme Inc., a construction company in the Upper Peninsula, has been bought back by its original owners from Eberhart Capital, an Arizona private equity company. Terms of the buyback were not disclosed.
Jim and Missy Delmont sold the business to Eberhart Capital in 2020. The repurchase deal closed March 1.
“Missy and I were extremely excited for the opportunity to purchase the businesses back from Eberhart,” says Jim Delmont, president of MJ VanDamme. “After the sale to Eberhart was complete, Missy and I continued to participate in the business in an advisory role. This allowed the transition after purchasing MJ VanDamme back last month to be quick and easy.
“Our business is strongly positioned for the future and Michigan remains an important state for industry growth. This sale is good for our 160 employees, our customers, and for Missy and me.”
MJ VanDamme is headquartered in Guinn, on the site of the former K.I. Sawyer Air Force Base. It has three other facilities in the U.P. and another in Marshall, east of Battle Creek. It supplies construction materials and provides trucking land development services. Its primary businesses are mining support, civil stream/earthwork, and material transportation.
“MJ VanDamme is a great company and was a solid investment for us,” says Hugh Lehr, a director at Eberhart Capital. “We know that Jim and Missy will lead it to the next level.”
