Mopec Added to Michigan Prosperity Fund

1199

GRAND RAPIDS — After commitment to invest Michigan private equity in Michigan-based companies, Blackford Capital aquires Mopec Inc., a full-service, full-line manufacturer of pathology and mortuary equipment based in metro Detroit.

Blackford Capital, a national private equity firm headquartered in Grand Rapids, acquires, manages and builds middle-market manufacturing, distribution and service companies, said the acquisition is its second 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.  

Mopec was founded in 1992 and employs 68 people at its 60,000-square-foot facility in Oak Park. It serves customers with a wide range of products for the pathology and mortuary market including the Mayo Clinic, Duke University Medical Center and the Cleveland Clinic.

“Mopec is the market leader in its field as a result of its advanced engineering and metal working capabilities, its focus on finding solutions to customer needs, and its passionate team of employees,” said Jeff Helminski, managing director of Blackford Capital. “We are honored to be partnering with Terry O’Rourke and the Mopec team in continuing the legacy that Rick Bell and George Hallman built, and we are committed to growing Mopec and creating jobs in Michigan.”

Blackford Capital said it will be implementing a board of directors and employing operating partners to support the management team and the growth of the business. Terry O’Rourke, former president of medical device manufacturer Aspen Surgical, will become the new CEO of Mopec. While at Aspen Surgical, O’Rourke helped grow the business from $25 million to $120 million in revenue over a 6 year period, creating 500 new jobs.

“I look forward to working with Mopec’s board, partners and staff to leverage the company’s well-respect reputation, and to increase revenues and add jobs,” said O’Rourke. “We expect great things from the future of our company and are proud to be a part of Blackford’s vision for Michigan’s future.”

Comerica Bank and Northcreek Mezzanine provided financing for the transaction.

“We are excited to be partnering with Blackford Capital and new CEO Terry O’Rouke,” said Barry Peterson, managing partner of Northcreek Mezzanine. “We are confident the new leadership team will build upon the success of the founders, fostering continued growth and taking the business to even higher levels.”

For more information, visit www.mopec.com.

Facebook Comments